Mini Bio (1). Ron Reagan was born on May 20, 1958 in Los Angeles, California, USA as Ronald Prescott Reagan. He is an actor, known for Post No Bills (1991), Hollywood Commandos (1997) and Front Page (1993). He was previously married to Doria Palmieri.
A non-recourse loan is defined as a loan where the borrower or guarantors are not personally liable for repaying any outstanding balance on the loan. Non-recourse financing is typically found on longer term permanent commercial real estate loans placed on a stabilized and performing asset.
A non-recourse loan is better for the borrower (and riskier for the lender). If a borrower defaults on a non-recourse loan, the lender is limited to foreclosing on the home to satisfy the debt. Even if the lender recovers just a small portion of the outstanding mortgage debt, the lender has no further recourse and cannot obtain a personal judgment against the borrower.