What is recourse?
A loan feature allowing the lender to pursue the borrower’s or guarantor’s assets beyond the property collateral if the loan defaults. Bank, bridge, and construction loans are more likely to carry full or partial recourse.
Where you will use it: this term comes up in the Real Estate Finance course, and the full course glossary collects every term in one place.
Related terms
From the free Real Estate Finance course by Devon Coombs, CPA, MBA.