From: John Cuccia 

On Sun, 09 Oct 2005 11:12:18 -0700, Ellen K.
 wrote:

>"Recourse" refers to the lender's security.  In places where home loans
>are "recourse", the lender can go after the borrower personally in case
>of default; where home loans are "non-recourse" (like in California),
>the lender is only entitled to the property itself.  When the last real
>estate bubble burst here, many people walked away from homes that were
>now worth less than the amount owing against them, sticking the lenders
>with the losses.

I think then, though I am far from sure, that Louisiana is a non-recourse state.

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