Legal Question in Wills and Trusts in North Carolina

This is not a probate question, its a real estate question. More importantly, why would the morrtgage lender do that? The whole purpose of a mortgage on property is that the property secures the loan. If there is a default, then the lender can at least get the property back. If there is a deficiency, then the lender can sue for the balance owed on the loan within one year. Given the economic climate, it is unrealistic for lenders to do this since debtors do not have the money. And a lawsuit will only force thre debtors into bankruptcy anyway, in which case the lender gets little to nothing.