Inscrit le: 24 Mai 2008
Moyenne de points: 1,00
|Posté le: 06/07/2008 04:33:17 Sujet du message: All about loans
|All about loans Car loans, SBA loans, personal loans, student loans, loans consolidation
A secured loan is a loan in which the borrower pledges some asset (e.g. a car or property) as collateral for the loan.
A mortgage loan is a very common type of debt instrument, used by many individuals to purchase housing. In this arrangement, the money is used to purchase the property. The financial institution, however, is given security — a lien on the title to the house — until the mortgage is paid off in full. If the borrower defaults on the loan, the bank would have the legal right to repossess the house and sell it, to recover sums owing to it.