Secured loans, such as for most mortgages, in which the lenders may not go after other assets if the foreclosed asset brings an insufficient amount to cover the outstanding debt when sold at auction are referred to as?
A) ?foreclosure free.
B) ?limited recourse loans..
C) ?nonrecourse loans.
D) ?upside down.
Answer : C) ?nonrecourse loans.
Business
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Indicate whether the statement is true or false
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What will be an ideal response?
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