Non–recourse loan is a type of loan secured by collateral, which is usually property. If the borrower defaults, the issuer can seize the collateral but cannot seek out the borrower for any further compensation, even if the collateral does not cover the full value of the defaulted amount.
In a non-recourse loan, the lender is out of luck. If there’s a balance due after selling the asset collateralized with the loan, the lender has to take the loss. This means they have no claim on the borrower’s other funds, possessions, or funding sources.
We can provide 100% LTV Non-recourse loan with our BG Leased Monetization Program.
If the loan is not paid, the lender cannot do anything except foreclose on the property. There is no chance of a deficiency judgment being obtained in a non-recourse loan.
If the borrower can’t pay and a foreclosure happens, the lender can’t try to get more money from the borrower to make up the difference.
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