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.
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.