Non-Recourse Debt — A type of loan that is 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… … Investment dictionary
non-recourse — UK US (also nonrecourse) adjective [before noun] ► FINANCE used to describe a loan in which the lender has the right to take only the asset bought with the loan if it is not paid back, and does not have the right to take any other assets: non… … Financial and business terms
Non-Recourse Expense — An accounting term that sometimes refers to the cost of absorbing losses on defaulted non recourse debt. In other words, when a borrower fails to repay a non recourse loan, the lender s only possible recourse is to seize any pledged collateral… … Investment dictionary
non–recourse — non–re·course /ˌnän rē ˌkȯrs, ri kȯrs/ adj: of, relating to, or being a debt whose satisfaction may be obtained on default only out of the particular collateral given and not out of the debtor s other assets a non–recourse mortgage a… … Law dictionary
Limited Recourse Debt — A debt in which the creditor has limited claims on the loan in the event of default. Limited recourse debt sits in between secured bonds and unsecured bonds in terms of the backing behind the loan. Often a limited recourse debt contract is… … Investment dictionary
limited recourse debt — USA limited recourse debt, Also known as a non recourse debt. A debt that is secured by a security interest in collateral but for which the lender has limited claims against the borrower in the event of a default. If the borrower defaults, the… … Law dictionary
Non-Recourse Sale — A transaction in which a creditor turns a bad debt over to a third party in exchange for a percentage of the total debt amount, and in which the third party is without means of redress or compensation if the debt remains uncollectible. In a… … Investment dictionary
Full Recourse Debt — A guarantee that no matter what happens, the borrower will repay the debt. Typically with a full recourse loan no occurrence, such as loss of job or sickness, can get the borrower out of the debt obligation. In this situation, if there is no… … Investment dictionary
Debt relief — is the partial or total forgiveness of debt, or the slowing or stopping of debt growth, owed by individuals, corporations, or nations. From antiquity through the 19th century, it refers to domestic debts, in particular agricultural debts and… … Wikipedia
Nonrecourse debt — Non recourse debt or a non recourse loan is a secured loan (debt) that is secured by a pledge of collateral, typically real property, but for which the borrower is not personally liable. If the borrower defaults, the lender/issuer can seize the… … Wikipedia
