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 stevecomish
Joined: 16 Sep 2009
Posts: 48
0.00 Dollars($)
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 Posted: Fri Sep 25, 2009 4:27 am Post subject: non-recourse loan |
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| What is a non-recourse loan? |
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sunnyca2009
Joined: 04 Aug 2009
Posts: 1735
35.94 Dollars($)
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| Posted: Fri Sep 25, 2009 5:03 am Post subject: |
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A non-recourse loan is one, if you forclose your house the lender is not goign to ask you to pay the deficient amount
So you are not laible to pay the deficient amount if for some reason the house was foreclosed |
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annyb27
Joined: 07 Jul 2009
Posts: 142
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| Posted: Sun Sep 27, 2009 12:06 pm Post subject: |
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Nonrecourse loan-
Non recourse loan is a loan for which no partner or related person bears the economic risk of loss.
For explaining this one example is there.Suppose the partnership deed done and taken non recource loan and by chance partnership breaks then lender has no right to recource against any of partner. There is only option of foreclosure of the assets used to secure the loan |
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