QUESTIONS? CALL: +1 (727) 847-2288
  • Meet our Staff
  • Attorney Profiles
  • Schedule an Appointment
  • Download Forms
  • Client Pay

Law Office of Roland D. Waller - Probate and Real Estate Attorney - New Port Richey, Florida

Law Office of Roland D. Waller - Probate and Real Estate Attorney - New Port Richey, Florida

Our firm takes a genuine interest in our clients, understands their objectives and meets or exceeds their expectations in a timely manner. We strive to provide superior legal services and maintain the highest standards of professional integrity.

T (727) 847-2288
Email: contactus@rdwaller.com

Law Office of Roland D. Waller
5332 Main Street
New Port Richey, Florida 34652

Open in Google Maps
  • Real Estate
    • Title Insurance
    • Contract to Closing
    • Contract Preparation & Review
    • Deeds
    • Buyer Representation
    • Seller Representation
    • Loan Modification Agreements
    • Mobile Home Title Transfers
    • Vacation of Easements
    • Rezoning
    • Mortgage & Note Preparation
    • Leases with Option to Purchase
    • Leases – Residential & Commercial
  • Probate
    • Trust Administration
    • Estate Administration
  • Estate Planning
    • Avoiding Probate
    • Medicaid Planning
    • Designated Health Care Surrogate
    • Durable Power of Attorney
    • Trusts
    • Wills
    • Healthcare Surrogate
  • Litigation
    • Condemnation
    • Boundary Dispute
    • Partition Action
    • Suit to Quiet Title
    • Defendant
    • Plaintiff
    • Eminent Domain
    • Land Use & Zoning
    • Contract Disputes
    • Evictions / Collections
    • Loan Modification
    • Foreclosure / Foreclosure Defense
  • Corporations
    • Preparation of Corporate minutes
    • Formation of Corporation or LLC
    • Partnership Agreements
    • Corporate Contract Preparation & Review
    • Purchase of Business
    • Sale of Business
  • Videos
    • About Us
    • Estate Planning
    • Guardianship
    • LLC’s and Corporations
    • Medicaid Planning
    • Probate
    • Real Estate
    • Real Estate – Buying
    • Real Estate – Selling
    • Real Estate – Foreclosure
    • Trusts
    • Wills
  • Testimonials
Sunday, 13 December 2015 / Published in Real Estate - Buying, Videos

What Is A Recourse Loan?

Video Summary

 

What is a recourse loan? Well, most loans are recourse, so whenever you sign a promissory note, it says, “I promise to pay,” and whenever you sign that, it obligates you to pay the amount that is set forth in the promissory note, or in the loan documents. Almost all commercial paper and any loans that you get from banks or financial institutions, loan companies, anyone else, is it is going to be what they call recourse; means they have a right to sue you.

 

The opposite of recourse is non-recourse, and that is whenever the note says that they will not look to the maker for payment; they will look only to the collateral. So, probably the better question, or answer, to that is:  is that you want to sign non-recourse paper, meaning that they can’t sue you if for any deficiency they take back whatever collateral it be, whether it be automobiles or real estate. However, it is difficult to obtain these loans and most lenders want you to be personally liable for the loans or have recourse paper or a recourse loan.

 

If you have any questions about that, give me a call at 727-847-2288.

 

 

 

 

FEATURED VIDEOS

  • What Happens When Parents Pass Away Without a Will?

  • How Can I Reduce Potential Conflict Among Beneficiaries?

  • Does An Executor of a Will Get Paid for His Time?

  • Do Wills Have to Be Probated?

  • How Can I Find Bank Accounts in My Parents’ Names After They Die?

  • Probate Lawyer Vs Estate Planning Attorney What’s The Difference?

  • How Can I Find a Will?

  • How Can I Obtain a Copy of My Parents’ Trust?

RELATED VIDEOS

About Us About Waller education real estate Waller
SUGGEST A VIDEO TOPIC

SIGNUP FOR NEW VIDEO NOTIFICATIONS

Keep up to date with our videos. We will notify you of any new video added via email.

Quick Links

  • Buyer Representation
  • Contract to Closing
  • Deeds
  • Leases w/ Option to Purchase
  • Leases – Residential & Commercial
  • Loan Modification Agreements
  • Mobile Home Title Transfers
  • Mortgage & Note Preparation
  • Contract Preparation & Review
  • Rezoning
  • Estate Administration
  • Trust Administration

Our Misson

“We Care”

Signup for our Newsletter

GET IN TOUCH

Tel: +1 (727) 847-2288
Fax: +1 (727) 848-4183
Toll Free: +1 800-304-2288
Email: contactus@rdwaller.com

Law Office of Roland D. Waller
5332 Main Street
New Port Richey, Florida 34652-2509

Open in Google Maps

  • Legal Terms
  • Website User Agreement
  • Privacy Policy
  • Legal Notice
  • GET SOCIAL
Law Office of Roland D. Waller - Probate and Real Estate Attorney - New Port Richey, Florida

© COPYRIGHT 2010-2022 RDWALLER.COM

TOP