Cuomo has said the rich are leaving the state altogether and many local officials in various cities have said bankruptcy is probable by the end of the 2020.

Quote from @Robin Simon: It means that you would personally guarantee the paying back of the loan in the case that you default and the lender forecloses on the property and receives less value in the property than the outstanding balance of the loan, you would be liable to pay back the difference.Example:You have a $500,000 loan and default (stop paying), if the lender forecloses and the property is only worth $400,000, you would be liable under your personal funds for the remaining $100,000Is it also true that if the LLC declares bankruptcy, the personal guarantee would also force the owner to pay off the loan outside of the LLC bankruptcy? 

I have seen an instance where on individual owed 90% of the company and the person who owned 10% got really hoses as the project went under and the person owned 90% filed personal bankruptcy which caused the other individual to also file.

The borrower, in any state, CAN file bankruptcy which causes lots more problems for the lien holders.

Remember, they can always refer themselves😊Now, make it a goal to call at least 5-10 of these people EVERY day and ask a MAX OF THREE off the list below of who they know that:Just inherited a homeHad a loved one pass awayIs behind on their mortgage or tax paymentsHas a relative that can’t take care of their house anymoreHas a house they’re having trouble sellingIs facing bankruptcyKnows a probate attorneyKnows a bankruptcy attorneyetcWhy only three off the list per contact?

Its an analysis derived by the mortgage industry to sell you a mortgage.The asset itself is a liability because it does not cash flow and can be lost in court either by civil lawsuit or bankruptcy.

The city has declared bankruptcy and they are actually bulldozing abandoned houses on the outskirts of the city to reduce the cities footprint.

Knowing you won't take bankruptcy for example arising from some other personal problem or other business arrangement is always a factor, but larger commercial deals are looked to to stand on their own, especially if the lender ends up owning them!

So if that subsidized housing applicant has multiple evictions, and is a bankruptcy risk because everything on their credit is maxed out, the landlord still has to look the other way and accept them as a tenant.Why would the government work so hard to legislate "acceptance" of Section 8 tenants at gunpoint if it's great for landlords? 

You should know better.Let me again show you exactly what DMM is and how it traps you into bankruptcy especially for beginners.Orange line is your potential profits,  and the blue line is the potential Cost/deal.Unless you are sending 10,000 mailers, you are gambling and you know what they say about gambling.