A debt instrument a lender can use to take action against the borrower or endorser personally, in addition to foreclosure of the property covering the lender's mortgage.
Related information about recourse note:
- Nonrecourse debt - Wikipedia, the free encyclopedia
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 ...
- What is recourse note? definition and meaning
Definition of recourse note: A debt instrument a lender can use to take action against the borrower or endorser personally, in addition to foreclosure of the ...
- RECOURSE NOTE DEFINITION
RECOURSE NOTE is a note where the default may result in loss of collateral and also personal suit and judgment. Most notes are recourse notes. -
- What Is a Non-Recourse Promissory Note? | eHow.com
Generally, with a non-recourse note, the lender will be limited to the value of the collateral for repayment of the debt, even if that value is less than the amount ...
- Full Recourse Promissory Note - Sample Contracts - Onecle
Maker accepts and agrees that this Note is a full recourse Note and that Holder may exercise any and all remedies available to it under law. 5. Waivers. Maker ...
- Recourse Note Law & Legal Definition
A recourse note is a type of promissory note, the default of which may result in loss of property submitted as collateral to the loan. The default of a recourse note ...
- Without Recourse - Legal Dictionary - The Free Dictionary
An example of a without recourse note is a personal check written by A, the maker, to B, the payee. B, in turn pays off a debt to C by endorsing the check and ...
- WITHOUT RECOURSE: Hangman's Noose « Livinglies's Weblog
Jun 28, 2010 ... An example of a without recourse note is a personal check written by A, the maker, to B, the payee. B, in turn pays off a debt to C by endorsing ...