Finance
In Missouri, a 'non-recourse' loan means that if the borrower defaults:
AThe lender can pursue the borrower personally for any deficiency
BThe lender's only remedy is to foreclose on the collateral—the borrower is not personally liable✓ Correct
CThe loan interest rate is fixed
DThe borrower has no right of redemption
Explanation
A non-recourse loan limits the lender's remedy to the collateral (property). The lender cannot obtain a personal deficiency judgment against the borrower.
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