Business / Taxes / Secured Loan: A secured loan is a loan that’s guaranteed with collateral, such as a home or car. If you default and fail to make payments on time, the lender can take possession of your collateral and sell it to recover the loan amount. In most cases, lenders charge a lower interest rate on a secured loan than on an unsecured loan of comparable size. An unsecured loan is guaranteed only by your promise to pay, not by collateral.
Business / Loan / Home Equity Loan: A loan made to a current homeowner that is secured by the equity in the home. MORE
Business / Debt / Unsecured Loan: An unsecured loan is a loan where the lender has no entitlement to any of the borrower's assets in the event of the borrower failing to make the loan repayments. Such a loan normally carries a higher MORE