TomCrade
New Member
Cash: $ 0.80
Posts: 4
Joined: 29 Jun 2010
|
It is a great solution for people who wish to borrow over 10K and may also wish to consolidate and high rate credit they currently have.
|
Wed Jun 30, 2010 5:46 am |
|
|
jason_simpson
Preferred Member
Cash: $ 28.45
Posts: 142
Joined: 20 Apr 2010
Location: London
|
Secured loans are those loans that are protected by an asset or collateral of some sort. The item purchased, such as a home or a car, can be used as collateral, and a lien can be placed on such purchases. The finance company or bank will hold the deed or title until the loan has been paid in full, including interest and all applicable fees. Other items such as stocks, bonds, or personal property can be put up to secure a loan as well.
Secured loans are usually the best way to obtain large amounts of money quickly. A lender is not likely to loan a large amount without more than your word that the money will be repaid. Putting your home or other property on the line is a fairly safe guarantee that you will do everything in your power to repay the loan.
|
|
Tue Jul 06, 2010 11:35 am |
|
|
calbeach
Full Member
Cash: $ 16.20
Posts: 80
Joined: 12 May 2010
Location: USA
|
I agree with all what you say. Also an unsecured loan has a lower interest rate than the secured loan.
quote:
Originally posted by jason_simpson
Secured loans are those loans that are protected by an asset or collateral of some sort. The item purchased, such as a home or a car, can be used as collateral, and a lien can be placed on such purchases. The finance company or bank will hold the deed or title until the loan has been paid in full, including interest and all applicable fees. Other items such as stocks, bonds, or personal property can be put up to secure a loan as well.
Secured loans are usually the best way to obtain large amounts of money quickly. A lender is not likely to loan a large amount without more than your word that the money will be repaid. Putting your home or other property on the line is a fairly safe guarantee that you will do everything in your power to repay the loan.
|
|
Tue Jul 06, 2010 4:51 pm |
|
|
pwscs
Member
Cash: $ 3.40
Posts: 16
Joined: 29 Jun 2010
Location: united states
|
i think a secured loan is a loan that requires a security deposit. it is designed for poor credit holders. right?
|
|
Wed Jul 07, 2010 11:24 am |
|
|
emarketer102
New Member
Cash: $ 1.00
Posts: 5
Joined: 07 Jul 2010
Location: Oradell, NJ
|
| Secured Loan |
 |
|
There are two ways to look at a secured loan.
The first way, is in the above replies. This is the normal way the bank describes the secured loans.
The unconventional description, is that a secured loan is a bank transaction that protects the bank in the event that the person who is loaned, cannot repay. This is a bank process that can confiscate your house, house contents, car, and whatever else is lodged as a security on the loan.
This is a bank's CYA strategy. CYA is Cover Your Ass.
regards
Marlon
How To Become a Millionaire
|
|
Wed Jul 07, 2010 4:38 pm |
|
|
pwsolutions
Contributing Member
Cash: $ 6.80
Posts: 34
Joined: 10 May 2010
Location: Dallas, TX
|
quote:
Originally posted by fincylaila
thanks man for sharing .secured loans can be a good option while you are trying for low interest rates
yes, but secured loans are secured for the lenders, not for you. because if you dont pay them off, they will come behind your property. right?
|
|
Wed Jul 14, 2010 5:01 am |
|
|
welbon
Member
Cash: $ 3.20
Posts: 15
Joined: 24 Aug 2010
|
generally banks offer secured loans to their customers.if you not paid your loan amount they can seize the asset loaning. first you can try to pay your loan and collect your loaning asset from the lending company.
|
|
Sun Aug 29, 2010 2:05 pm |
|
|
teal1066
Contributing Member
Cash: $ 5.40
Posts: 26
Joined: 23 Aug 2010
|
Nice post ..Your post is really helpful for all.
|
|
Tue Aug 31, 2010 1:13 pm |
|
|
Ashley Watson
Contributing Member
Cash: $ 6.00
Posts: 26
Joined: 24 Aug 2010
Location: USA
|
| Re: What Is A Secured Loan? |
|
|
Secured loans such as a home loan, student loan or a business loan. It is therefore a good idea to apply for a competitively packaged loan after reading about it, understanding its various features and then applying for the cheap secured loan that best meets your needs and requirement. We are an online resource for loans and loan-related financial services. We provide information on a complete range of secured loans both to individual borrowers and institutional customers looking for extended lines of credit.Fast loan are also secured and safe lone and very popular in these days.
|
|
Tue Aug 31, 2010 2:17 pm |
|
|
StockTrader6080
Contributing Member
Cash: $ 7.65
Posts: 38
Joined: 26 Sep 2009
|
Good information...
But I think all loans are unsecured to an extent in one way or the others.
|
|
Tue Aug 31, 2010 2:46 pm |
|
|
jason_simpson
Preferred Member
Cash: $ 28.45
Posts: 142
Joined: 20 Apr 2010
Location: London
|
A secured loan is a loan that has collateral attached to it. This type of loan generally has a lower interest rate because the bank is taking a lower risk because it can collect the collateral if you default on payments. A secured loan is a good way to build credit.
|
|
Sat Sep 04, 2010 9:05 am |
|
|
moonraker1
Full Member
Cash: $ 16.00
Posts: 79
Joined: 21 Aug 2010
|
Secure Loan is loan with Collateral pledged and it’s good for people with good credit. Unsecured loans are more handy and useful as financial rescue.
|
|
Tue Sep 07, 2010 9:46 am |
|
|
financegenie
Full Member
Cash: $ 12.40
Posts: 70
Joined: 19 Aug 2010
Location: Mumbai
|
Secured loans are those loans that are protected by an asset or collateral of some sort. The item purchased, such as a home or a car, can be used as collateral, and a lien can be placed on such purchases. The finance company or bank will hold the deed or title until the loan has been paid in full, including interest and all applicable fees. Other items such as stocks, bonds, or personal property can be put up to secure a loan as well.
Thanks !!!!
|
|
Wed Sep 08, 2010 6:13 am |
|
|
jason_simpson
Preferred Member
Cash: $ 28.45
Posts: 142
Joined: 20 Apr 2010
Location: London
|
A loan which is backed by assets belonging to the borrower in order to decrease the risk assumed by the lender. The assets may be forfeited to the lender if the borrower fails to make the necessary payments.
|
|
Mon Sep 13, 2010 12:15 pm |
|
|
jason_simpson
Preferred Member
Cash: $ 28.45
Posts: 142
Joined: 20 Apr 2010
Location: London
|
A loan which is backed by assets belonging to the borrower in order to decrease the risk assumed by the lender. The assets may be forfeited to the lender if the borrower fails to make the necessary payments.
|
|
Mon Sep 13, 2010 12:16 pm |
|
|
|
