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To: Katelew who wrote (140599)	7/10/2010 10:17:49 PM
From: Dale Baker	Read Replies (1) of 541674

Whether a mortgage is recourse or non-recourse varies by state and can get quite complicated, from what I have heard. If the wealthy people set up an LLC to own the investment real estate, then the bank is screwed regardless when that entity goes belly up.

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