First Western Federal and Next Generation Trust Present Non Recourse Lending Webinar
Recourse vs Non Recourse Loans. What is the difference? You may hear about Non Recourse Loans and wonder what that is all about and how can you get one.
Let's start with Recourse Loans first which is the typical loan you may sign at a bank or credit union when you borrow money for a car or a home or commercial building. You usually sign the promissory note in your own name or your companies name and you are responsible for making the payments on that loan. And if there is a default on the loan, you as the borrower can be sued for the unpaid balance of the loan.