Types of Secured Loan.
Secured loan are those loans which are granted to debtors by holding the assets as a collateral.
The types of Secured loan are listed below:-
- A Mortgage Loan is a type of secured loan having the collateral of real assets such house, land , and so on.
- A Non Recourse Loan is a type of secured loan where the collateral is only security.
- A Foreclosure is legal platform of mortgage property where the collateral is sold for paying the debt of borrower in case of default.
- A Repossession of is a loan where the property like car is taken as collateral and is taken by the creditor in the case of default by the creditors.
Posted by Prakash
on 3:41 AM
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