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Three Major Differences Between Recourse and Non-Recourse Loans
November 1, 2023
Borrower / Guarantor Liability Recourse – The borrower (or guarantor) is personally liable for the full amount of the loan, including any debt remaining after the collateral is foreclosed upon and sold. To satisfy the remaining debt, the lender can look to the individual assets of borrower (or guarantor). Non-Recourse – The borrower (or guarantor) […]