Secured Loans Guide

Secured Loan Section


 

Secured Loan Navigation

Loans Guide Home Page
Partners
Tell A Friend about us
How Can I Clear Secured Loan Debts |
Adverse Credit Loan Secured |
Adverse Credit Loan Secured |
Adverse Credit Loan Secured |
What Is A Secured Loan |
Bad Credit Secured Loan |
Fast Secured Loan |
Fast Loan Secured |
Personal Secured Loan |
Home Loan Secured |
Cheap Loan Secured |
Debt Consolidation Secured Loan |
Adverse Credit Loan Secured |
Adverse Credit Loan Secured |
Fast Loan Secured |

List of Secured-Loans Articles

Secured Loan Best Seller

Learn More Here!



Best Secured Loan Products



Click Here To Discover Insider Secrets Of Loan Modification - How To Do It Yourself With 60-Minute Loan Modification!



"Legit Online Jobs" - Click Here To Start Earning Today!


Ovation Credit Services
Check out Ovation Credit Services ... Fix your credit profile today! Ovation specializes in credit report repair. This is an awesome program. They get fantastic results and you'll be amazed at the low monthly fee. Highly recommended!


"How To Get A Mortgage"
Terrific resource on obtaining a mortgage, even if you've been foreclosed or filed bankruptcy. On sale now for only $10.00!

Click Here!


Personal Loans & Visa Approved At Abacus
Offering Personal Loans, Credit Cards For The Credit Impaired.


Click Here!


Mortgage Secrets For Investors
Mortgage Secrets For Real Estate Investors E-book. Stop Getting Bullied By The Banks And Start Closing Your Investor Loans!

Click Here!


Bad Credit Personal Loans Regardless Of Bad Credit - Up To $25,000
Click Here!



Sitemap



Social bookmarking
You like it? Share it!

Newsletter

Subscribe to our newsletter AND receive our exclusive Special Report on Secured-Loans
Email:
First Name:



Main Secured Loan sponsors


 



Newest Best Sellers


 

Welcome to Secured Loans Guide

 

Secured Loan Article

Thumbnail example

What You Should Know About Secured Loan



Introduction

The cost of living has spiraled like never before and it is the common man who is the worst affected amongst all. It is now a common practice to resort to a series of mortgages, loans and other forms of financial help in order to support the budgetary requirements, even for the daily living.

In face of such circumstances, it is the category of secured loans that are becoming increasingly popular amongst different sections of borrowers as well as creditors. However, to opt for this kind of a loan, it is first important to be aware of the few important basics of the same.

The Basics

A secured loan is basically defined as a loan in which the borrower pledges a particular asset as collateral for the loan, such as a car or property. This kind of a loan then becomes a secured debt for the creditor.

In a situation where the borrower is unable to repay the amount involved
in a secured loan, the debt can be then secured against the collateral. In other words, the creditor takes possession of the asset and has the right to sell it to reclaim the expenses involved.

On the other hand, from the viewpoint of the creditor, in secured loans, the lender has actually been granted a portion of the bundle of rights to specified property.

Experts advise that there are three main benefits of opting for a secured loan, from the viewpoint of the lender as well as the borrower. These include:

i) Minimization of the risk for the creditor as in the case of non-payment, the pledged assets can actually be used
ii) Possibility of higher amount being sanctioned in the face of secure loan
iii) Less amount of stress for the borrower as some kind of a security has already been provided.

Types of Secured Loans

There are various types of secured loans that are available in accordance with the borrower's requirements and the general terms. The few most common type of secured loans include:

1. Savings secured loan – In this type of loan, it is mandatory for the borrower to have a savings account with the creditor. Hence a portion of the money in the account is used as collateral for the secured loan.
2. Mortgage loan – This is a secured loan, in which property acts as a collateral, the most common example being home.

3. Nonrecourse loan – This is a form of secured loan in which the collateral is the only security the creditor has against the borrower.

A few common examples of secured loans include:

• Home Equity Loan
• Second Mortgages
• Debt Consolidation Loan




1