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Secured debt can be with or without recourse.
Without recourse simply means that, upon default by the borrower, the forfeiture of the collateral is the sole remedy of the lender. If the collateral is insufficient to repay the outstanding debt the borrower has no further liability and the lender is just out of luck or "without recourse" to collect the deficiency from the non-recourse borrower.
Conversely, in debt with recourse, there is no such limitation and if the collateral is insufficient to repay the debt the borrower can be sued to pay the deficiency.
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