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Old 05-23-2007, 06:01 PM
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Default Secured loans

I'm confused as to what this actually means. Is this the kind of loan that you take out with your bank and they automatically take the funds out of you account to repay it?
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Old 05-29-2007, 01:56 PM
leanne-paris leanne-paris is offline
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Default Re: Secured loans

A secured loan is a loan taken out against say your property so that if you miss or cant afford the repayments they have something they can get their oney back on. If you need a secured loan try ringing 0800 169 6570 they are called foundations and they were really helpful.
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Old 06-01-2007, 02:25 PM
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Default Re: Secured loans

How is this different than a home equity loan? Must the property be a home?
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Old 08-18-2007, 07:39 PM
asiaanwar asiaanwar is offline
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Default Re: Secured loans

Secured loans can be taken out on your home, a valuable possession or even a business you own, Ofcourse the danger of secured loans are that if you fail to repay the loan the items or property can be confiscated from you. Im not too sure how home equity loans work, but i have found that intrest rates on secured loans are very reasonable and your borrowing potential is increased.
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Old 08-29-2007, 09:17 AM
OMM OMM is offline
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Default Re: Secured loans

One important thing about a secured loan - they are only available to homeowners who already have a mortgage. You borrow against the equity in your home - that is, the difference between the value of the house, and the balance of your mortgage.

In other words, say your house is worth 120,000 and your mortgage balance is currently 100,000. This means that the equity you have in your home is 20,000. You can borrow a secured loan against this 20,000.

If you don't have a mortgage (but you are a homeowner) you'll need to either get a small mortgage, or get an unsecured loan.
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Old 09-01-2007, 01:24 PM
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Default Re: Secured loans

Ask your banker about "creative financing" and see what they come back to you with. Sometimes, if they know the entire situation, they can do amazing things.
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Old 12-02-2007, 11:42 AM
finsub finsub is offline
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Default Re: Secured loans

what is the difference between a secured and a non secured loan?
and what is the benefits of a payday loans and how can i get one? Please PM
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Old 12-02-2007, 01:28 PM
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Default Re: Secured loans

A secured loan means that your loan or part of it is secured by an asset(s) which will decrease the risk for the lender.

Payday loans are loans I would not recommend as it will never solve your problems which force you to take out a payday loan.
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Old 12-10-2007, 07:53 AM
gilbertimlay gilbertimlay is offline
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Default Re: Secured loans

G'day to everyone


Secured loan means u must give some security to whom, who give u loan.


Thnx
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Old 12-11-2007, 07:42 AM
michelrobinson michelrobinson is offline
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Default Re: Secured loans

A secured loan is any loan that requires the borrower to provide the lender with some form of security.
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