Really, if it is complex, i.e., hard to understand and changes frequently does it really rise to the level of law?
Borrowers should determine if they live in a state with nonrecourse laws. In general, lenders in those states cannot pursue borrowers for money owed. But these laws are complex and change often, so consulting with a lawyer may be necessary, Mr. Geller said.
I think not.
Rather, it is mere legislation most likely enacted to fulfill someone’s rent seeking desires.