Scott, there's two kinds of debt.Comes now a website--I won't link it because I don't like to give free advertising-- that specializes in nonrecourse debt. As in: come to us, we'll help find you a nonrecourse loan.
There's recourse debt.
And there's nonrecourse debt.
Scott, you can never have too much nonrecourse debt.
Wednesday, March 10, 2010
Markets in Everything: Recourse
This journal seems to have a thing about non-recourse finance--i.e., loans where the lender may look to the collateral to satisfy his claim, but with no recourse against the borrower for any shortfall. See link. My friend Scott likes to tell his days as a young lawyer and the lecture he got from the senior partner: