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.
The Definition of Recourse and Non-Recourse. First of all, what do the terms recourse and non-recourse mean? The definition of a recourse loan is a loan where the borrower or guarantors are personally liable for repaying any outstanding balance on the loan, in addition to the collateral itself.
Non-Recourse Commercial Loans - Carveouts. Non-recourse commercial real estate loans have exceptions within the loan documents that essentially transfer personal liability to the Sponsor for certain bad boy behaviors. Or more specifically, there are personal guarantees required with non-recourse commercial mortgage loans. Not only is the Sponsor personally liable for bad boy behaviors, individuals or entities providing limited guaranties or indemnification can still be liable.