Based on your financial expertise, provide your response or viewpoint on the given financial question or topic. The response format is open.

Will the ex-homeowner still owe money after a foreclosure?
Generally, yes, although not in all states.  According to this article in Time: But in non-recourse states — Alaska, Arizona, California, Connecticut, Florida, Idaho, Minnesota, North Carolina, North Dakota, Texas, Utah, and Washington — the bank has no recourse beyond the repossession of the property. As for the question about what price the bank can sell it: again, each state makes its own rules, and states may have rules against selling it for much below market value. Quick Google for "ohio state law foreclosure deficiency judgement market value" turned this up:  Limitation on Deficiency Judgments. The property cannot be sold at foreclosure sale for less than two-thirds of the appraised fair market value. (Ohio Rev. Code §§ 2329.20, 2329.17).   (source:   http://www.nolo.com/legal-encyclopedia/deficiency-judgments-after-foreclosure-ohio.html)