Nonrecourse Debt

Nonrecourse Debt
Nonrecourse debt is a type of debt secured by collateral, typically real estate, where the lender's recourse in case of default is limited to the collateral, and the borrower has no personal liability beyond the collateral.
Recourse Loan
A recourse loan is a type of loan in which the lender has the right to pursue the borrower's other assets beyond the collateral if the borrower fails to meet the repayment terms.

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