Using Self-Directed IRA in a Defficiency Judgment State

[Rick Garrido]

Hi, All,

I'm considering purchasing a property in Ohio using my self-directed IRA for the downpayment. However, I'm being told by the account custodian that loans on a self-directed must be Non-Recourse loans. Since Ohio is a deficiency judgment state, I don't believe lenders would be willing to waive the right to obtain judgments against the borrower in the event a foreclosure sale doesn't cover the full amount owed. Does anyone have any suggestions on how to get around this? Would appreciate the feedback.