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In the context of real estate financing, what is a non - recourse loan? A loan where the lender can only seize the property used
In the context of real estate financing, what is a nonrecourse loan?
A loan where the lender can only seize the property used as collateral if the borrower defaults, and cannot pursue the borrower's other assets.
A loan where the borrower is personally liable for the loan amount if the property value does not cover the debt.
A loan where the lender cannot seize the property if the borrower defaults.
A loan where the borrower must repay the debt even if the property value exceeds the loan amount.
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