All About Secured Loans
A secured loan is a loan agreement in which the borrower pledges property as surety for the loan; hence they are also known as homeowner loans. If the borrower continually defaults on loan repayments, the lender may take action to reclaim the debt including selling the property.
Advantages and disadvantages
With something as valuable as your property at stake; lenders know that you are likely to stick to the agreement. Add in the extra financial security provided by your property and it's easy to see why lenders regard you as low risk. As a result you can expect interest rates one or two points lower than with an unsecured loan, you can borrow greater amounts; anything up to 125% of the equity in your property, and you can spread the loan over a longer term.
The main disadvantage of a secured loan is the attendant risk of losing your property. You need to be absolutely sure that you understand the terms and conditions of the agreement and that you can meet loan repayments. If you find yourself in financial trouble most lenders will be sympathetic and do everything that they can to help reschedule repayments. After all, the last thing they want is to face a lengthy court case incurring hefty legal fees. However, it's important to understand that your property is at risk.
Should I take out a secured loan?
Before you take out a secured loan, think carefully about what you need it for. Secured loans can make astute financial sense in the right circumstances, for example: if you want to consolidate a number of smaller expensive debts, such as credit cards, into a single monthly payment. However, if you intend to use the loan for purchase, such as a new car or holiday, it would be wiser to start saving.
There is a convincing argument for arranging a secured loan to pay for home improvements; as this will add value to your property. However, any pay-back will be in the long-term and depends on the buoyancy of the property market.
Finding the best deals
Everybody knows that there are great loan deals available on the Internet; the difficulty lies in finding them. Unfortunately there are no real short cuts and the key is to do as much homework as possible first.
Start by getting in touch with a number of brokers (make sure they are FISA registered) and see what they can offer you. Larger brokerages can be motivated by hitting sales targets and you may find that they try to push a particular lender.
FISA regulations stipulate that lenders may not initiate contact for seven days after sending the initial loan agreement. This 'cooling off' period is to allow potential borrowers to consider their options. Use it carefully to compare brokers. Remember that you are under no obligation until you have signed the loan agreement.
Don't be fooled by unrealistic loan offers made over the phone. Unscrupulous lenders often promise unrealistic rates in the hope of getting their hands on your pay slips. Once they have your documentation; loan conditions are often then revised. If this happens to you; go elsewhere.
If you are still having difficulty finding a suitable loan; consider approaching and Independent Financial Advisor.
Quicken Loans opening Detroit medical office to serve 17,000 Gilbert employees - Crain's Detroit Business
Quicken Loans opening Detroit medical office to serve 17,000 Gilbert employees Crain's Detroit Business
Americans Support Federal Action To Make Student Loan Repayment Easier The Pew Charitable Trusts
House Democrats unveil bills to address how officials use state aircraft, campaign loans - Courier Journal
House Democrats unveil bills to address how officials use state aircraft, campaign loans Courier Journal
This credit card will let you earn rewards to pay off your student loans — but is it a good deal? - MarketWatch
This credit card will let you earn rewards to pay off your student loans — but is it a good deal? MarketWatch
Google Shuts Out Payday Loans With App-Store Ban The Wall Street Journal
SBA reports decline in loans from KC district office Kansas City Business Journal
'My loans are dead': 28-year-old pays off $102K in student loans, celebrates in cemetery - USA TODAY
Six-figure parent loans: When college dreams for students mean nightmarish debt for family - USA TODAY
Six-figure parent loans: When college dreams for students mean nightmarish debt for family USA TODAY
Google Play Store clamps down on payday loan apps TechRadar India
Dairy Parlor Reconstruction and Farmland among 4 loans approved – Lane Report | Kentucky Business & Economic News - The Lane Report
Dairy Parlor Reconstruction and Farmland among 4 loans approved – Lane Report | Kentucky Business & Economic News The Lane Report
Employers Try a New Perk: Matching Student Loan Payments With 401(k) Contributions - The Wall Street Journal
Employers Try a New Perk: Matching Student Loan Payments With 401(k) Contributions The Wall Street Journal
Quicken Loans to Open Health Center for 17000 Employees U.S. News & World Report
Long Loans Make Sense Car and Driver
What to Know About Missing a Student-Loan Payment The Wall Street Journal
Top News In Payments: Google Play Bans High-Interest Loan Services; Thoma Bravo To Buy Sophos - pymnts.com
Top News In Payments: Google Play Bans High-Interest Loan Services; Thoma Bravo To Buy Sophos pymnts.com
VA refunds $400 million in mistaken home loan fees Military Times
Actress Olivia Munn, Quicken Loans CEO Jay Farner, Actress Sophia Bush, Detroit Pistons Star Blake Griffin And Other Influential Leaders To Speak At 2019 Under 30 Summit in Detroit - Forbes
Actress Olivia Munn, Quicken Loans CEO Jay Farner, Actress Sophia Bush, Detroit Pistons Star Blake Griffin And Other Influential Leaders To Speak At 2019 Under 30 Summit in Detroit Forbes
New York Sues Student Loan Servicer for ‘Abusive’ Acts The New York Times
BNP Refinances Sotheby's NYC HQ with $252M Loan Commercial Observer
Long term car loans aren't worth it — here's why Fox Business
Ungraded Wool triggers loan deficiency payment in Pecos and Terrell counties - The Fort Stockton Pioneer
Ungraded Wool triggers loan deficiency payment in Pecos and Terrell counties The Fort Stockton Pioneer
The Seven-Year Auto Loan: America's Middle Class Can't Afford Its Cars The Wall Street Journal
A disaster-recovery loan agent stole hurricane victims' identities to enrich herself, feds allege - CNN
A disaster-recovery loan agent stole hurricane victims' identities to enrich herself, feds allege CNN
How to Get a VA Loan Benzinga
EU OKs $419M German loan for Thomas Cook airline Condor The Associated Press
Just Approved: Reverse mortgage arranged after loan decline from major lender - San Francisco Chronicle
Just Approved: Reverse mortgage arranged after loan decline from major lender San Francisco Chronicle
Bad Credit Loans: Compare Personal Loans for Bad Credit Credible News
Indiana gets $436 million WIFIA loan in largest single disbursement to date - Water Finance & Management
Indiana gets $436 million WIFIA loan in largest single disbursement to date Water Finance & Management
America Is Drowning in a Student Loan Crisis San Diego Entertainer Magazine
College student loans: Debt hits a new high in 2018, though growth slows, as free tuition plans spread - USA TODAY
College student loans: Debt hits a new high in 2018, though growth slows, as free tuition plans spread USA TODAY
Shubh Loans receives ₹34 cr in Series A2 round The Hindu BusinessLine
Freddie Mac Using Shady AI Company for Mortgage Loans The American Prospect
Billionaire Robert Smith follows through on pledge to pay off Morehouse students' loan debt - Inside Higher Ed
Billionaire Robert Smith follows through on pledge to pay off Morehouse students' loan debt Inside Higher Ed
What Will It Take to Solve the Student Loan Crisis? Harvard Business Review
I Was Denied an Auto Loan. Now What? Credit.com News
No Emergency Fund? A Small Personal Loan May Be the Answer Black Enterprise
Gov. Newsom Signs Law Capping Consumer Loan Interest Rates KTLA Los Angeles
EPA chief travels to Indy, gives state $436 million loan to bring cleaner water to Hoosiers - IndyStar
EPA chief travels to Indy, gives state $436 million loan to bring cleaner water to Hoosiers IndyStar
Lindsey Burke: A major threat to our economy -- The student loan system is underwater - Fox Business
Univfy and BBVA USA collaborate to bring Express Healthcare Loan Program with competitive rates to fertility patients at participating IVF centers - BBVA
Univfy and BBVA USA collaborate to bring Express Healthcare Loan Program with competitive rates to fertility patients at participating IVF centers BBVA
Does Deferring Student Loans Affect Credit Credit.com News
The new payday loan law is better, but the hardship remains: Interest rates still high - Cincinnati.com
The new payday loan law is better, but the hardship remains: Interest rates still high Cincinnati.com
GM workers affected by UAW strike can get this loan Detroit Free Press
BJP promises easy farm loans but no waiver in Haryana Times of India
Can I Get a Bad Credit Auto Loan with No Credit Check? Auto Credit Express
ATT'N WEED PEOPLE! The Government Has Grants and Loans Galore Available For You, But You Should Apply Soon! - Lost Coast Outpost
ATT'N WEED PEOPLE! The Government Has Grants and Loans Galore Available For You, But You Should Apply Soon! Lost Coast Outpost
Not Repaying Your Student Loan? Here's What to Expect MoneyRates.com
Sweetwater commissioners suspend part of uranium company loan payment Wyoming Business Report
Finance: How guilt can lead to student loan debt The News-Messenger
See What Your Home is Worth
If you thought your home is worth nothing except for living purposes, then think again. It might be holding a treasure, still waiting to be explored.
Student Loan Limits Not Keeping Up with Tuition Rates
As tuition rates at many colleges continues to rise, the limits that students may borrow each year has stayed the same.Dependent undergraduates may borrow up to $2,625 their freshman year, $3,500 their sophomore year and $5,500 for each remaining year in Stafford Loans.
Useful Tips On Buying A New Or Used Car
Buying A New Car: A new car is second only to a home as the most expensive purchase many consumers make. That's why it's important to know how to make a smart deal.
Faxless Payday & Cash Advance Loans - Fast Cash, No Faxing Loans, The Easiest Payday Loan Process
If you are in a hurry for a payday loan, the last thing you want to have to do is fax in your documents of verification. That's no problem, nowadays, you can find many payday loan or cash advance loan companies that can verify your income and identification without you having to fax in any documents.
A Beginners Guide to Online Loans
If you're just beginning to look at online loans, you might feel that you're getting in over your head.Online loans have been growing in popularity in recent years, due in no small part to the ease and convenience of being able to apply for online loans from the privacy and convenience of your home at any time of the day or night.
Secured Personal Loans - What You Need To Know About
Loans that are secured against property are called secured personal loans. They are suitable for when you are having difficulties getting an unsecured personal loan, are trying to raise a large amount, or you just have a bad/poor credit history.
When is a Commercial Lender not a Commercial Lender?
A Commercial Lender is Not a Commercial Lender When it is a BankA commercial lender offers loans backed by hard collateral, usually real estate. Usually a commercial lender's lending criteria will be less stringent than at the local bank.
The Wonders of Compound Interest
Albert Einstein called compound interest "the greatest invention of all time." It has even been referred to as the "Eighth Wonder of the World.
Bridge Loans: Everything You Wanted To Know
As the name implies, bridge loans fulfill a vital need for active developers by giving life to a new project in the months before lenders feel confident enough to make available a construction loan, or a repositioning loan in the case of an existing project. But real estate bridge loans have other uses, both tactical and strategic, that make them indispensable in today's New York marketplace.
SBA Loan: Options, Benefits, and Lenders Part 2 of 2
In this second installment, we will further examine what kinds of SBA loan options are available, and for what kinds of businesses they are most advantageous. We will also discuss the different types of SBA lenders.
Risk It With A Bridging Loan?
How many times have you been casually going about your business, seen a great property and thought, "that would be a really nice place to live"? Then you snap out of it, knowing you can't lay your hands on the money fast enough. Well what if you really wanted this property? You discussed it with the agent, your emotions got the better of you and you made an offer.
Business Credit Scoring: Is It a Killer Application or Application Killer?
In his 1968 seminal novel, 2001: A Space Odyssey, Arthur Clark introduced HAL, a spaceship computer with artificial intelligence. Mission engineers designed HAL to carry out an array of technical orders to safeguard the ship's mission.
Military Payday Loans - When's The Best Time To Avail Of These?
What are the opportune times to avail of military payday loans? The best time to take out military payday loans are when you find yourself temporarily short of funds and see the loan as a temporary measure to tide you over until your next pay check.Other such situations where you find yourself financially strapped are the following:1.
To Find The Right Loan You Must First Find The Right Lender
We have found internet shoppers to be the savviest in the mortgage market. Frequently they have submitted their mortgage loan information.
8 Point Checklist: Evaluating Online Vendors
Finding the Bad Credit Personal Loans that You Need
It can seem impossible at times to get bad credit personal loans? every place that you go to apply for a loan turns you down without a second thought. You may feel frustrated, depressed, or overwhelmed? all because of credit mistakes that you've made in the past.
Guide to Unsecured Loans
Outlined below is a guide to unsecured loans. It will give you a better understanding of what an unsecured loan is as well as what to consider before applying for one.
How to Get a Secured Loan UK
Living in the United Kingdom, you might find yourself in the market for a secured loan UK. Before rushing out to try to find one, however, you might want to do a little bit of research? after all, there's a bit more to it than simply heading down to the bank and getting them to loan you the money.
Information About Adverse Credit Homeowner Loans
While looking for adverse credit homeowner loans it can seem like you're fighting a losing battle. You might think that no lender will want to give you a loan because of your credit? but you'd be mistaken.
A Guide to Debt Consolidation Loans
Should you find yourself overcome by debt, you might want to consider debt consolidation loans. These loans are designed with the person in debt beyond their means in mind, allowing for repayment of the outstanding debts while combining multiple payments into a single affordable monthly payment.
|home | site map|
|TIGER MEDIA© 2006|