Posted by Eliezer candelario on November 18, 2004 at 18:38:50:
can I BORROW ANY AMOUNT OF MONEY FOR A BUSINESS ?WOULD i BE SUBJECT TO PAY THE LOAN OR THE CONSENSUS THAT IT NEED NOT TO BE PAID ?ALSO CAN I BORROW TO FIX A HOME OR BUY A SECON HOME ,WITH OUT ANY MONEY TO PAY BACK ? P.S I COULD BE WRONG ABOUT ALL OF THESE QUESTION PLEASE EXPLAIN?
Non Recourse Loan - Posted by Paul E. Welborn,Jr.
Posted by Paul E. Welborn,Jr. on October 10, 2004 at 12:41:19:
Has anyone heard of a non recourse loan. How it works. Can I do one to somebody and use it as collateral on a deal for a down
Re: Non Recourse Loan - Posted by wes
Posted by wes on October 11, 2004 at 09:01:59:
“Non-Recourse loan” is almost exclusively a commercial loan term.
The term refers to the fact the borrower in not “personally” liable for the loan. As opposed to a “recourse” loan where they are responsible regardless of what happens with the property.
Even with commercial loans, Non-Recourse loans are most common with loans of $1,000,000+.