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Non-recourse loans

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advantageappraisals Joined: 11 Nov 2009 Posts: 7 3.12 Dollars($)	Posted: Wed Feb 10, 2010 11:42 pm    Post subject: Non-recourse loans Like 0 Dislike 0 Are all loans in California considered Non-Recourse loans?
Niicss Joined: 03 Oct 2005 Posts: 4834 Location: New Jersey 508.88 Dollars($)	Posted: Thu Feb 11, 2010 3:00 am    Post subject: Like 0 Dislike 0 As far as I know, the primary mortgages in California are non-recourse loans. If the second mortgage is a part of your purchase money mortgage, then it will be considered as non-recourse loan. _________________ Good is the Enemy of Great.
advantage Guest	Posted: Thu Feb 11, 2010 8:31 pm    Post subject: Like 0 Dislike 0 Does it say in your loan docs weather it is a non-recourse loan or not? Is there a statement that I should be looking for just to confirm?
smithsussane Joined: 18 Sep 2008 Posts: 10439 Location: Alaska 985.83 Dollars($)	Posted: Fri Feb 12, 2010 12:13 am    Post subject: Like 0 Dislike 0 Hi Guest! Welcome to forums! As far as I know, your loan documents will mention whether or not your loan is recourse or non-recourse. However, you can even speak to your lender and he will let you know whether or not your loan is non-recourse. Feel free to ask if you've further queries. Sussane

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