Finance
In Washington, a 'recourse' loan allows the lender to:
ACollect only from the property in foreclosure
BSue the borrower personally for any deficiency balance after foreclosure✓ Correct
CRefinance the loan without the borrower's consent
DSell the loan to Fannie Mae or Freddie Mac
Explanation
A recourse loan allows the lender to seek a deficiency judgment against the borrower personally for any unpaid balance remaining after a foreclosure sale. Washington's Deed of Trust Act limits recourse after trustee's sales on residential property.
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