We keep looking for information about Deficiency Judgements:
So far, it seems the Banks have been holding back; probably reasoning that the majority of Ex-Homeowners don't have enough money to make it worthwhile.
We had a wave of Foreclosures that were caused by Medical Bills, Job loss, and the like.
Then the Market started to collapse; and we have seen a lot of people lose their house simply because they were Under Water, and they didn't want to lose any more money: They weren't destitute, or even hurting; they just didn't like being under water.
We are probably talking about 10 million foreclosures in this category. (just a W.A.G., but it may be more; who knows).
But that number is too large for the Banks to ignore. Would you?