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.
The lender may not obtain a deficiency judgment even if the sale proceeds do not repay the total debt owed on the loan. Recourse or Nonrecourse Varies from State to State. Whether a mortgage loan is recourse or nonrecourse varies from state to state, depending on the state's laws.