Finance
A 'non-recourse' loan in Arizona means that in the event of default, the lender:
ACan pursue the borrower personally for any deficiency after sale
BIs limited to the collateral (property) and cannot pursue the borrower personally for any deficiency✓ Correct
CCan take any of the borrower's other assets
DMust seek government reimbursement before suing the borrower
Explanation
A non-recourse loan limits the lender's remedy to the collateral only. Arizona's anti-deficiency statutes effectively make certain purchase money residential loans non-recourse by prohibiting deficiency judgments after qualifying trustee's sales.
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