Detailed information on Secured Loans

Glossary:

A secured loan is a loan backed by collateral.

A Secured loan is a loan in which a borrower pledges an asset such as a home or car that may be sold if the borrower is unable to repay the loan.

A loan that is backed by collateral.

A secured loan is a borrower’s obligation that includes the pledging of some form of collateral to protect the lender in case of default.

A secured loan is a loan which some asset is pledged as collateral to ensure payment of the loan.

Borrowed money that is backed by collateral is a secured loan.

A loan that is backed by collateral. If the borrower defaults, the lender can sell the collateral to satisfy the debt.

A secured loan is backed by collateral. If you fail to repay the loan, the lender may seize the collateral and sell it to repay the loan. Auto loans and home mortgages are examples of secured loans. Educational loans are generally not secured.

A secured loan is a loan where the borrower offers an asset to which the lender has access in the event of the borrower failing to make the loan repayments - this asset is usually your home.

A loan designed for the homeowner that allows them to use the value in their property as security. This type of loan can usually be used for any purpose.

A loan that is secured by collateral. Security Assets or personal property pledged as collateral to secure a loan. Security Interest An interest in property that secures performance of a credit obligation. Service Contract These are contracts that provide financial coverage to repair or replace any failure or breakdown within the limits of the policy. Simple Interest A method of calculating interest due by applying a periodic rate to the outstanding balance on a daily basis.

A secured loan is a loan which is secured by a mortgage over your property.

A secured loan is a loan whose re-payment is guaranteed by the pledging of a piece of collateral.

Type of arrangement in which borrower has some form of backing i.e. collateral equal in value to the amount of money he/she is borrowing.

A secured loan is a loan for which the creditor's interest is protected by requiring the borrower to pledge collateral of some kind. The collateral can be any marketable asset.

When the loan is secured on an asset, (such as property) to guarantee payment of the loan.