Thursday, 17 February 2011
An Explanation Of Secured Loans And Logbook Loans
The credit card statements are now starting to rear their ugly heads. Reminding us all that we spent far too much money over the festive period, and no doubt struggling to find a solution to our ever increasing debt. People who are elliglible may consider the benefits of debt consolidation especially if they have some collateral that can be offered to the lender.So What Is A Secured Loan?A secured loan is a loan that is secured on some collateral usually your home. This means that if you do not repay the loan the lender can force the sale of the collateral that you used to recoup their money. To qualify for a secured home loan you will need;1.To own your home: you must be a homeowner to qualify for a secured loan. 2.Equity in
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