Under the laws of most States in this country a "non-recourse loan" only applies to a residence bought by a property owner to live in for herself or himself and is obtained solely in the purchase of the property. Refinances of loans are not purchase money (non-recourse) loans typically.However, in some States if the mortgage holder goes through a non-judicial as opposed to a judicial foreclosure (lawsuit filed in a court house) and there is a non-judicial foreclosure of the property, the non-judicial foreclosure most often is non-recourse even if the loan was a refinace or not purchase money.Meaning, one might not owe any money on the loan that was foreclosed upon by way of a non-judicial foreclosure.The above answer hopefully points you in the right direction.