Here’s an idea...why let added debt to a refinanced mortgage or an equity loan be included in the foreclosure, or better stated, why can’t the lender obtain a judgement for collection on the amount over the purchase money mortgage amount? Too many people walking away scott free from their personal decisions and obligations...at the rest of our expense.
I think they can in “recourse” states...only in “non-recourse” states can they not do that, if I understand right.