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.
So the $3000.00 difference in debt will then be accounted to the non-recourse loan lenders for a net loss. Tax Consequences: Recourse and Non-Recourse Loans. Whether you have a recourse or nonrecourse loan, your tax implications will be different on what you have to pay after your seized asset has been sold off by the lender. With recourse loans, the tax is implied as the property was sold at fair market value.