Sentences with phrase «recourse against the borrower»
Today almost all commercial mortgages will require personal guarantee s and are with recourse against the borrower.
http://www.flagstonemortgage.com/
They want FULL UNLIMITED recourse against the borrower.
Not exact matches
Unlike first mortgages, second mortgages or home equity lines are recourse notes - that is, the lender can assess a deficiency against a borrower, and the second mortgage holder can sue the borrower on the note.
The purchase - money lender has recourse only against the collateral for the loan and not against the purchaser / borrower in her individual capacity.
As a co-signer, you have no legal recourse against the primary borrower.