What Happens When Your House Burns Down and You Still Have a Mortgage?
The Wall Street Journal
Press Mention
1.16.25
Mark Nicoletti was quoted in an article in The Wall Street Journal about what happens to the mortgages belonging to homeowners whose houses have burned down. The article focused mainly on the recent devastating fires in Southern California. Mark said that California is “much more borrower-friendly” than some other states, and the article explains that “California is one of several states that has non-recourse mortgages, which allow lenders to only go after the property after a foreclosure and not other borrower assets.”
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