[toomuchtodo]

I’ve defaulted on two mortgages in a recourse state, one primary residence, one investment property. Neither was pursued. While extreme, you can always move to Texas or Florida; they have incredibly strong creditor protections making you mostly judgement proof. Depends on your threat model, exposure, and risk tolerance.

(not legal advice, educational purposes only)

[kotlin2]

How much did you owe after the properties were sold?

[toomuchtodo]

Zero. And I was eligible for a new FHA mortgage 3 years after.

[kotlin2]

I mean what was the difference between your outstanding mortgage principal and the value of the homes at the time of default?

[toomuchtodo]

Roughly $300k in aggregate