I'd like to know whether a person owes any money to a bank if his house was foreclosed. From what I found, it says yes and the borrower owes the difference that the bank sold the property for. If this is true then is there a way to avoid this and prevent a bank from selling the house for less?
It could be a good business for a bank. Sell it to someone they know for $1 and have the borrower still pay the full price.
Is the bankruptcy the answer? If so, how one can turn to a bankruptcy status?
The target market is Ohio, USA