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.
Letâs take an example to illustrate the difference between recourse and non-recourse loans. Suppose a borrower has the following loan outstanding for an office building: Now, suppose the vacancy goes up in the building much higher than expected and market based rental rates decline substantially.