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[non-ree-kawrs, -kohrs, non-ri-kawrs, -kohrs] /nɒnˈri kɔrs, -koʊrs, ˌnɒn rɪˈkɔrs, -ˈkoʊrs/

noun, Finance.
a loan for which the borrower cannot be held responsible for any amount in excess of the security for the loan, even if the value of such security falls below the level it had or that had been anticipated for it at the time of the loan.


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  • Nonrecurrent

    [non-ri-kur-uh nt, -kuhr] /ˌnɒn rɪˈkɜr ənt, -ˈkʌr/ adjective 1. not .

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    [non-ri-kur-uh nt, -kuhr] /ˌnɒn rɪˈkɜr ənt, -ˈkʌr/ adjective 1. not .

  • Nonrecurring

    [non-ri-kur-ing, -kuhr] /ˌnɒn rɪˈkɜr ɪŋ, -ˈkʌr/ adjective 1. not occurring or happening again, especially often or periodically. 2. noting or pertaining to an income or charge considered of a nature not likely to occur or happen again.

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