Non-recourse means taking back the property itself is the only recourse the lender has in the event of a default, however, they will have a "bad boy clause" or "guarantee" meaning that if you do something fraudulent, illegal, or certain defined bad acts they will come after you personally for liabilities and deficiencies in the event of a default.

Trash your credit with a short sale due to a deficiency you state to be "several thousand" dollars??

The credit ramifications are a little better than a foreclosure and your odds of not being pursued for the deficiency are greater.

If they think there's a chance of recovering something, they will file a deficiency judgment and set the price much lower.

Over time, we will address deficiencies, many which were minor, that were identified in the inspection.

This potentially could include a deficiency judgement and attaching liens to assets owned personally.

When I asked the inspector he made it seem as if it wansn't a big deal and he said that this is expected from older homes (built in 1974) still he marked the foundation as deficient in his report but he did mention that the foundation is in serviceable condition.Tomorrow my option period ends and need to make a decision, I estimate that the seller is selling at around 10% below market value.

She’s very good at pointing out deficiencies and code violations that I have overlooked tons of times.

AD read    for 1k I can keep you in your home for a year  :)  Hey that's cheaper than rent and if you don't care about your credit.... and in NV there is no deficiency judgment on purchase money .. so it was just a money grab..

I accept paper applications and wont charge or run credit if the paper ap is deficient or unqualified.