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Strategies & Market Trends : Value Investing -- Ignore unavailable to you. Want to Upgrade?

To: Dan Meleney who wrote (39734)	10/20/2010 12:11:23 AM
From: Spekulatius	Respond to of 78753

re Mortgage note. Maybe your mortgage note is different then mine. Mine has specific provisions what the Lender can do if the property is abandoned. he can for example take certain actions to protect the value of the property. The note specifically states that any amounts disbursed (to protect the value of the property) shall become additional debt of Borrower secured by this Security instrument . That appears to be a non non- recourse clause as it specifically states that the borrower has no right to get made whole beyond taking title to the property. Not sure that a discussion about morality leads anywhere here. People do, what they do and apparently nobody get's sued. A home is not a castle but in good times it is an ATM via the home equity line and cash out refinances and in bad time a rental from FRE/FNM.