A loan for which an undersigner is liable for payment if the borrower defaults.
Related information about recourse loan:
- Recourse debt - Wikipedia, the free encyclopedia
Recourse debt is a debt that is not backed by collateral from the borrower. Also known as a recourse loan, this type of debt allows the lender to collect from the ...
- Nonrecourse debt - Wikipedia, the free encyclopedia
Non-recourse debt or a non-recourse loan is a secured loan (debt) that is secured by a pledge of collateral, typically real property, but for which the borrower is ...
- Recourse Loans and Non-recourse Loans - Personal Risk vs Losing ...
When you don't repay a loan, you take a risk. With recourse loans, lenders can try to collect money from you in a variety of ways. With non-recourse loans, ...
- Recourse Loan Definition | Investopedia
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 ...
- What is recourse loan? - BusinessDictionary.com
Definition of recourse loan: Loan agreement under which a borrower gives an undertaking to repay a debt even if the funded asset (acquired with the loan ...
- Non-Recourse Loans Vs. Recourse Loans
May 1, 2009 ... What is the difference with a recourse loan vs. a non-recourse loan and ... A purchase loan is a non-recourse loan and a refinanced loan is a ...
- Recourse Loan - Financial Dictionary - The Free Dictionary
A loan for which there is a co-signer. That is, if the borrower defaults on the loan, the co-signer becomes legally liable for repayment. Thus, in addition to any ...
- What is recourse loan? definition and meaning - InvestorWords.com
Definition of recourse loan: A loan for which an undersigner is liable for payment if the borrower defaults.