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This is financial advisor Patrick Munro talking about what is a non-recourse loan. In the
world of lending, there are various ways that lenders manage to work with clients. And it's,
it's very key. When you've got a client that is of such outstanding credible nature and
credit worthiness, they can actually borrow money from a bank or an individual crediting
company and there's no recourse if the asset that they're borrowing against goes down in
value. All that individual is responsible for is paying the loan back. It's something
that's granted to not every borrower. But it doesn't allow any recourse where the lender
can go back for a short fall between the difference of the loan and the asset. This is the definition
of non-recourse loans and this is financial advisor Patrick Munro.