Most (but not all) states in the United States have some combination of “anti-deficiency laws” or “non-judicial foreclosure” proceedings, which prevent a bank or other lender from getting a deficiency judgment against a homeowner who has been foreclosed on… These rules prevent the lender from continuing to seek principal, interest, fees and expenses after the foreclosure is completed… However, as this interesting New York Times article points out, none of these rules apply to auto loans…
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