NON-RECOURSE LOAN FINANCING - A Comprehensive viewpoints.
NON-RECOURSE LOAN FINANCING Meaning of a non-resource loan, the lenders and what it take to qualify? These are an immanent questions that needs attention . From your mortgage professionals, we’ll give you the rundown of what you need to know about non-recourse loan financing. WHAT IS NON-RECOURSE LOAN FINANCING? A non-recourse loan is a loan secured by collateral, which is usually some form of 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 short, lenders can collect the collateral but may not go after the borrower’s other assets. Havelet Finance limited have given this above definition on the contrary. Most times, we analyze borrowers capacity, then require just a certified promissory note/or personal guarantee for repayment of the loan. While potential borrowers may find it attractive to apply for a non-r...