Cheap Loans.
The other name of secured loans are cheap loans. It is called so because the interest of such loan is minimum as compared to others source of loan.
It is possible in secured loans. The debtor of the loan is entitled with the minimum of interest. The creditor is agreed upon so because the collateral or the asset is in his control. And in the case of default by the debtor the real owner of the collateral changes, that is to say that the creditor of the loan is entitled with the bonafied owner of the asset.
The creditor also values the collateral as less then the real value it posses in the maturity of the loan period. So he is profit in case of default by the debtor.
Posted by Prakash
on 3:18 AM
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3 comments:
Avoid foreclosure with a loan modification also known as a Loan workout . Loan modifications can lower mortgage payments and help stop foreclosure by modifying the terms of your mortgage loan.
Secured loans are really helpful in assisting you financialy so that you don't loose your valuable assets. Avoid foreclosure by applying for a loan now.
The interest rate will be lower on a secured loan than on a comparable unsecured loan. A secured loan may also offer more flexible repayment periods.
So, it is very helpful to me...
and i prefer mostly secured loans.
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