But a word of caution: refinanced loans and home equity loans tend to be recourse loans.

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In a European version, cheap, non-recourse loans would encourage investors to buy Italian or Spanish bonds and bring down yields.

ECONOMIST: The world economy

Congress should not kick-the-can down the road on Fannie and Freddie and it should also address home buyers walking away from responsibilities on non-recourse loans.

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An alternative, quietly touted by some North American officials, is to tempt investors into buying bonds by giving them access to non-recourse loans from the ECB.

ECONOMIST: The world economy

Recently, a premier Islamic finance scholar, Mohammed Taqi Usmani, declared some aspects of sukuk to be un-Islamic, specifically the buyback at cost and the interest-free non-recourse loans.

FORBES: Legal Lip Service