Finance
A Virginia commercial real estate loan with a 'recourse' provision means:
AThe lender can only seize the property in case of default
BThe borrower is personally liable for any deficiency after foreclosure✓ Correct
CThe loan has no prepayment penalty
DThe borrower can transfer the loan freely
Explanation
A recourse loan holds the borrower personally liable for any deficiency remaining after the lender sells the foreclosed property. Non-recourse loans limit the lender to the collateral only.
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