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:
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2 comments:
is a nonrecourse debt then what we used to call a loan you got a from your bank on your signature, you went in and said you needed $500 for 90 days and they put it in your checking account and you paid it back with interest in 90 days. used to be a lot of loans made like that.
This is a great post. I just had one of the ‘Doh!’ moments and ran back to correct my own site before publishing my comment. You see my own comment form did not match what I’m about to advice. I get less comment than you, so never noticed any problem. I’ve changed it now anyway so here goes.
get academic
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