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.
The Definition of Recourse and Non-Recourse. First of all, what do the terms recourse and non-recourse mean? The definition of a recourse loan is a loan where the borrower or guarantors are personally liable for repaying any outstanding balance on the loan, in addition to the collateral itself.
What is 'Recourse Loan' A type of loan that allows a lender to seek financial damages if the borrower fails to pay the liability, and if the value of the underlying asset is not enough to cover it. A recourse loan allows the lender to go after the debtor's assets that were not used as loan collateral in case of default. BREAKING DOWN 'Recourse Loan'