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.
With a recourse loan (or recourse debt), you are personally liable for any unpaid debt, and the lender can take action to collect â even after seizing collateral. With a non-recourse loan, by contrast, the lender does not have as many options, so the bank is taking more risk.