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insurance to cover their losses if their homes cash new refinance york severely damaged by an earthquake, mudslide or other natural disaster -- and they try to hand the keys back to the lender. As things now stand, lenders rarely seek judicial foreclosures in cases involving residential real estate. The obvious practical reason is that lenders typically foreclose as a last resort, and homeowners are broke and have little prospect of every cash new refinance york the loan. And thanks to double-digit increases in real estate values, homes generally fetch enough to cover the mortgage anyway. In addition, lenders are hesitant to seek judicial foreclosures because they're time-consuming, expensive and ultimately leave the outcome in the hands of a judge. package loan participation mortgage reverse mortgage repayment mortgage But that reluctance could wane if home values tank and foreclosures rise, some experts say. ``If property cash new refinance york go down by 20 percent, then everyone would be thinking about this,'' UCLA's Nelson said. Lenders are likely to find that the threat of a judicial foreclosure is more powerful under the cash new refinance york bankruptcy rules that take effect today. Under the previous rules, borrowers could threaten to file for Chapter 7 bankruptcy protection and erase a deficiency along with credit-card
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