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stevecomish · Joined: 16 Sep 2009 Posts: 48 0.08 Dollars($)

What is a non-recourse loan?

sunnyca2009 · Joined: 04 Aug 2009 Posts: 1731 35.55 Dollars($)

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

annyb27 · Joined: 07 Jul 2009 Posts: 144 -1.08 Dollars($)

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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