Non-recourse loans differ from traditional loans in a fundamental way: they limit the lender's recourse to the collateral securing the loan. Unlike recourse loans, where the lender can pursue the borrower's personal assets in case of default, non-recourse loans restrict the lender's recovery solely to the collateralized asset. This distinction significantly reduces the borrower's personal liability, offering greater protection and peace of mind.
Ref. link: https://tinyurl.com/4tncbwuk
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