Nonrecourse financing refers to loans secured by collateral, typically real estate, where the lender's ability to recover the debt is limited to the proceeds from the sale of that collateral alone, with no further recourse to the borrower's other assets.
With over 3,000 definitions (and 30,000 Quizes!), our Lexicon of Real Estate Terms equips buyers, sellers, and professionals with the knowledge needed to thrive in the real estate market. Empower your journey today!