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All Forum Posts by: Kest Cousins

Kest Cousins has started 1 posts and replied 2 times.

Private Lending & Conventional Mortgage Advice

Post: Non-recourse loan question

Kest CousinsPosted
  • Real Estate Investor
  • fresno, CA
  • Posts 14
  • Votes 0

When I am talking about a sponsor I am talking about when the company doesn't have the net worth for the property and brings on someone that does (it is similar to a cosigner)

0 Votes
Private Lending & Conventional Mortgage Advice

Post: Non-recourse loan question

Kest CousinsPosted
  • Real Estate Investor
  • fresno, CA
  • Posts 14
  • Votes 0

My question is if you are trying to assume a non-recourse loan would you need a sponsor for the net worth or is that up to the bank?
From my understanding a non-recourse loan they (the bank) cannot come back to you personally, so what would the sponsor do?

0 Votes