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how is the economy effecting you?

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HaRuMaN:

--- Quote from: saint on August 13, 2010, 02:11:32 pm ---
--- Quote from: shmokes on August 13, 2010, 02:09:42 pm ---I've never bought a house, but I'm under the impression that a non-recourse loan is typically way overcollateralized where the property securing the debt is worth like twice as much as the loan.  There doesn't seem to be much business sense in handing out a non-recourse loan secured by property that is or likely will be worth significantly less than the amount owed.  I'm just going on gut here, but I'd be surprised to see many typical mortgages that were of the non-recourse variety.

--- End quote ---

You did notice the little economic blip we had recently, right?

--- End quote ---

Bwahaha

Endaar:

--- Quote ---This applies to loans other than mortgages, but it seems rare to see anything but a mortgage of the "non-recourse" type.
--- End quote ---

I think you mean most mortgages these days are "recourse" loans, right?

Endaar

shmokes:

--- Quote from: saint on August 13, 2010, 02:11:32 pm ---
You did notice the little economic blip we had recently, right?


--- End quote ---

Sure . . . but I don't see how that is necessarily related.  I know that banks were handing out loans to people who weren't remotely qualified, but I don't see why that automatically means they'd be handing out non-recourse loans.  I mean, maybe they were . . . but . . . were they?

Blanka:

--- Quote from: saint on August 13, 2010, 02:11:32 pm ---You did notice the little economic blip we had recently, right?

--- End quote ---

Blip?
What is a blip?

MonMotha:

--- Quote from: Endaar on August 13, 2010, 02:27:04 pm ---
--- Quote ---This applies to loans other than mortgages, but it seems rare to see anything but a mortgage of the "non-recourse" type.
--- End quote ---

I think you mean most mortgages these days are "recourse" loans, right?

Endaar

--- End quote ---

No, I was saying that I've really only ever heard of mortgages being non-recourse loans.  It's very rare for other types of loans (auto, personal, etc.) to be non-recourse.  Many mortages ARE of the recourse type, but some are non-recourse, especially older ones where the down payment was large.

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