I refinanced the 2nd 8 months after buying a house due to the interest rate. But I never took out any equity. It was for the same amount of the original loan. Is that recourse or non-recourse.
2007-09-16 15:17:36 · 2 answers · asked by flo s 1 in Business & Finance ➔ Renting & Real Estate
What, I am not sure what you are asking, and why anyone would want to know the difference. As for your answer you need to give more details! What type of 2nd, static, heloc, term, combine L.T.V. ? I am more curious as to why you, as a consumer want to know! This is a mortgage term that is defined in your closing doc's. Hope this helps, Good Luck!
2007-09-16 15:55:17 · answer #1 · answered by Anonymous · 0⤊ 0⤋
Recourse or non-recourse depends upon the wording of your loan contract. Read it for the answer to your question.
2007-09-16 16:28:55 · answer #2 · answered by Bostonian In MO 7 · 0⤊ 0⤋