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market,'' said Robert Aalberts, a business-law professor at the University of Nevada-Las Vegas. ``You will see people in involuntary servitude for years, trying to pay off their real estate debts.'' The Californians most obviously at risk are debt consolidation loan without owning a home who have refinanced to patch up faltering finances or, worse, to forestall a foreclosure. Also at risk are hordes of recent home buyers who stretched to buy homes using interest-only loans, ``option ARMs'' and other exotic mortgages that they would debt consolidation loan without owning a home to refinance before low initial monthly payments vault higher. Even the affluent are vulnerable if they lack enough insurance to cover their losses if their homes were severely damaged by an earthquake, mudslide debt consolidation loan without owning a home 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 debt consolidation loan without owning a home repaying 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
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