Non-Recourse Mortgage

Non-Recourse Mortgage,

Definition of Non-Recourse Mortgage:

  • When a home is borrowed, it is a home loan where the borrower never owes more than the value of the home.

Literal Meanings of Non-Recourse Mortgage

Non:

Meanings of Non:
  1. Rejection or absence

  2. Not included in the ad.

  3. (Involved in a verb to form an adjective) Neither demand nor demand.

  4. Neutral is the expression of a negative connotation when there is a form of correspondence that begins with them or a specific connotation of the United Nations (e.g., inhuman or dehumanized).

Sentences of Non
  1. Without aggression

  2. Anti-slip

Recourse:

Meanings of Recourse:
  1. A source of help in difficult situations.

Sentences of Recourse
  1. Surgery may be the only way

Synonyms of Recourse

option, possibility, alternative, possible course of action, resort, way out, person to turn to, place to turn to, source of assistance, available resource, hope, remedy, choice, expedient

Mortgage:

Meanings of Mortgage:
  1. A legal arrangement under which a bank or other lender charges money at interest in exchange for allocating the borrower's property, provided that the transfer of the property is reversed after the loan is repaid.

  2. Assign (assets) to creditors as collateral for the loan.

Sentences of Mortgage
  1. I deposited one lakh cash and took the remaining installments

  2. This property was mortgaged

Synonyms of Mortgage

credit, advance, mortgage, put up as collateral, guarantee, pawn