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What exactly are unsecured and non secured loans? How are they different from secured loans?
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December 9, 2008 -
Responses:
- Secured loans are given with something stated as collateral ( you don't pay your loan, we take your house, car, etc.) Non-secured loans are more like personal lines of credit. They are harder to get, and tend to be higher interest.
A secured loan is money loaned to you by a financial institution that is backed by something valuable, known as collateral - your home, your business or something of established value. If you don't pay the loan back, you lose the item of value. An unsecured loan is money loaned that has no guarantee of repayment. If you go on vacation and use your credit card, and then don't pay - there is little the credit card company can do, except charge you finance charges and maybe turn you over to creditors. Non-secured loan is a British term and I don't really understand the circumstances surrounding this type of lending.
- secured loans have a locked in intrest rate nonsecured and unsecured (which is the same) does'nt
Knowledge Base: Targeted Loans
secured loans?
December 9, 2008 - Category: Targeted Loans
i have two secured loans on my property and a mortgage, i recently became self employed lately and things are tight money wise at the moment until i build business
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home loan??
December 9, 2008 - Category: Targeted Loans
my house is worth about usd 550k. my credit score is 559 right now, due to my excessive credit card and student loan debt. nothing has ever been late, it
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Trying to qualify for a home loan. Will adding my name to my parents savings account help?
December 9, 2008 - Category: Targeted Loans
i have been doing alot of research in terms of qualifying for a home loan and can not seem to find an answer to this. many home loans require you
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