Any action by banks on recourse loans?

[qwerty_IHB]

We keep on hearing the stories about people refinancing and pulling out all their equity for whatever reason. From what i understand most states other than california, loans for home purchases are recourse loans. i have yet to read or hear about one story about the bank going after the people to get some of their money back. Is it just not worth it to banks to go after people (cost > benefit) or do they not have the resources to go after people at this point? Will banks start going after people in the near future? Just curious if any of you have heard any stories about banks going after people? Maybe Lending Maestro can share his bank's policy on this??

 

[lawyerliz_IHB]

<p>Banks in Fla virtually NEVER go after deficiency judgment, even tho the law favors them. I don't understand why. Bad publicity? Useless because the borrowers have no money anyhow?</p>

<p>The some banks will get a deficiency on a car loan.</p>

<p>I am not hearing about this changing.</p>