re: Is "walking away" from a mortgage wrong?

quote:

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so theoretically, it could follow you forever???

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Yup.

In several states, you can just renew every X years until the end of time. And then you can transfer ownership to someone else to do the same.

I used to work for a bad debt buyer who loved to sue people in these states. I can't remember which off the top of my head though.

ETA: I should also add that many banks opt not to do this. In some states, it's a hassle, and you don't get anything unless the homeowner has liquid assets or wages that can be garnished. But it's certainly enough of a deterrent to give pause to people who are in good financially shape when they are considering trying to bail.