You are required to repay a Non-Recourse Loan. True False

Social Studies

2 answers:

Anton [14]3 years ago

6 0

False

Although you should always pay a loan

fomenos3 years ago

3 0

Answer:

False.

Explanation:

A Non-Recourse Loan is a type of loan where the lender will not be repaid if the investment made by him has not been successful. That is, in this type of loan, the lender will invest money in some property of value belonging to him (such as a house, or farm for example) if that value asset is not sold or provides no means of repaying the investment, the lender will have to suffer the loss of the money you have lent. In that case, you will have no obligation to repay the lender for anything.

Although you do not need to repay the lender's money, the interest rate on this type of loan is very high.

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