FAQ- what does non-recourse mean?

Non-recourse debt is peace of mind and security for borrowers. With non-recourse debt, the loan in question is secured by the property alone and there is no personal liability.  For example, if the borrower defaults on the loan, the lender cannot obtain any further compensation from the borrower beyond the seizure of the property, even if the property collateral does not cover the full value of the defaulted amount.