What Is The Difference Between Recourse And Nonrecourse Liabilities?
What Is The Difference Between Recourse And Nonrecourse Liabilities? A recourse debt holds the borrower personally liable. … A nonrecourse debt (loan) does not allow the lender to pursue anything other than the collateral. For example, if a borrower defaults on a nonrecourse home loan, the bank can only foreclose on the home. How do