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.
What is a 'Recourse' A recourse is a legal agreement which gives the lender the right to pledged collateral in the event that the borrower is unable to satisfy the debt obligation. Recourse refers to the legal right to collect. Recourse lending provides protection to lenders, as they are assured to have some sort of repayment, either in cash or liquid assets.