I just want to say that what USDA suggests on implementing this amendment, it would be simply, instead of a nonrecourse loan that means you can forfeit, it would be a recourse loan. So you can still borrow the money, but eventually you will have to pay it back at the lower interest rate.
Nick Smith: “I just want to say that what USDA suggests on implementing this amendment, it would be simply, instead of a nonrecourse…”
Editor's note · Context
Discussing the implications of a USDA amendment regarding loan types.
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