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.
If the borrower defaults, the lender/issuer can seize the collateral, but otherwise the lender's recovery is limited to the collateral. Thus, non-recourse debt is typically limited to 50% or 60% loan-to-value ratios, so that the property itself provides overcollateralization of the loan. The incentives for the parties are at an intermediate position between those of a full recourse secured loan and a totally unsecured loan.