Nonrecourse Loan Questions
Hey there,
I have 3 mortgages right now, all conventional and I'm wondering about nonrecourse loans. I have a vacant lot in the San Francisco area that is completely paid off but just sitting there. I am not building a home on it at this time and wonder, should I use it as collateral to get another loan to buy another multi-family? That way, atleast the lot is making money right? Can anyone give me some advice on this? What are %'s usually on a nonrecourse loan? Thanks!