Nonrecourse debt is debt that is secured by collateral but for which the borrower isn't personally liable. Hence, if the borrower were to default on the loan, the lender could only recover against the collateral, not against the borrower personally.
Nonrecourse debt is debt that is secured by collateral but for which the borrower isn't personally liable. Hence, if the borrower were to default on the loan, the lender could only recover against the collateral, not against the borrower personally.