Jeff asked: what are the current foreclosure laws in the state of Nebraska? All the banks that we work with have told us that if a customer defaults and the bank ultimately sells the property for less than what you owe, the borrower owes the difference.
In the owner occupant world I have seen it more times than not where the bank chooses not to go after the difference. In the investment world it is very different. Several banks that had borrowers default tell me they will chase these borrowers to the end of the earth to get paid. Ask me the question again in a year, I will have a lot more information then.
