> I believe that is the case in some states as well (but not California). They get to repo the house, sell it and then can sue you for the rest you owe.
Even where allowed in the US, they tend (not always, it varies by state) to increase the judicial oversight of (and thus extend timelines for) the foreclosure sale, and often reduce the finality of a foreclosure sale by providing a post-sale redemption period. Both of these things are things that lenders might prefer to avoid in many cases where a deficiency would, in theory, be available.
Even where allowed in the US, they tend (not always, it varies by state) to increase the judicial oversight of (and thus extend timelines for) the foreclosure sale, and often reduce the finality of a foreclosure sale by providing a post-sale redemption period. Both of these things are things that lenders might prefer to avoid in many cases where a deficiency would, in theory, be available.
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