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.
Utilities receive state panel loans Northwest Arkansas Democrat-Gazette
Mankato targets loans/grants to small-business fix-ups Mankato Free Press
Blue Loans focuses on customer service, local homebuyers Record-Courier
With no loan limits and easy requirements, VA loans are more popular than ever | Mortgage Rates, Mortgage News and Strategy - The Mortgage Reports
With no loan limits and easy requirements, VA loans are more popular than ever | Mortgage Rates, Mortgage News and Strategy The Mortgage Reports
Student loan debt reaches $1.6 trillion, slow loan repayments to blame WJW FOX 8 News Cleveland
One month left to apply for SBA disaster loans Red Bluff Daily News
Best American business loans companies Santa Clarita Valley Signal
Farm storage facility loans available to growers | Agriculture messenger-inquirer
Bailout Up to $500 Million Proposed for Taxi Drivers Trapped in Loans The New York Times
Business Loans: Bank vs Peer to Peer NuWire Investor
WHS Greene offers repayment plan for RNs with student loans Uniontown Herald Standard
Green loans catch on in push for companies to clean up Financial Times
US House overturns DeVos’ student loan forgiveness rule FOX 31 Denver
Is Student Loan Debt Now Dischargeable Through Bankruptcy? It's Complicated | Brittany Hunter - Foundation for Economic Education
Is Student Loan Debt Now Dischargeable Through Bankruptcy? It's Complicated | Brittany Hunter Foundation for Economic Education
Former Students of Defunct ITT Tech Receive $95.1 Million Loan Relief Wall Street Journal
NIU students share their experiences with student loans DeKalb Daily Chronicle
New Loan Limits Blow the Roof Off Mortgages Yahoo Finance
'I have a chance now to have a life': Navy vet who won watershed student loan ruling tells his story - Yahoo Canada Finance
'I have a chance now to have a life': Navy vet who won watershed student loan ruling tells his story Yahoo Canada Finance
Upending Bankruptcy ‘Myths,’ Judge Erases $220,000 Student Loan Debt Wall Street Journal
Status Update: Temecula retail-industrial development gets $19M loan Press-Enterprise
Senate lawmakers consider public defender loan repayments Wilmington News Journal, OH
Lekoil fake loan probe puts spotlight on Bahamas broker Financial Times
Banks Get Tough on Shale Loans as Fracking Forecasts Flop The Wall Street Journal
Lending a Hand: Programs promote homeownership through loan assistance - Springfield Business Journal
Lending a Hand: Programs promote homeownership through loan assistance Springfield Business Journal
LOANS ROUND-UP: GOOD START FOR CONOR GALLAGHER, GOAL FOR TIEMOUE BAKAYOKO | Official Site - Chelsea FC
LOANS ROUND-UP: GOOD START FOR CONOR GALLAGHER, GOAL FOR TIEMOUE BAKAYOKO | Official Site Chelsea FC
Bad Loans Swell at India Shadow Bank Altico BloombergQuint
Bank of Thailand eases housing loan rules Bangkok Post
South Suburban looking for art-on-loan applicants Centennial Citizen
Saddleback loan guarantee meeting postponed Lewiston Sun Journal
Loan watch: Rhian Brewster scores first senior goal Liverpool FC
Gedson Fernandes Joins Tottenham Hotspur on 18-Month Loan Bleacher Report
Home loan application: How to improve the chances of approval Moneycontrol.com
Scott Morrison promises bushfire grants, loans and tax relief for nearly 200,000 small businesses - Daily Mail
Scott Morrison promises bushfire grants, loans and tax relief for nearly 200,000 small businesses Daily Mail
Bank loans are falling Rural News Group
Aston Villa goalkeeper Kalinic joins Toulouse on loan FourFourTwo USA
Loan wolves The Real Deal
Bloomberg rips Trump over 'very small' million-dollar loan from father Washington Examiner
Chelsea to loan Victor Moses to another club Anadolu Agency
Official | Aston Villa send Croatian goalkeeper Lovre Kalinić on loan to Toulouse - Get French Football News
Official | Aston Villa send Croatian goalkeeper Lovre Kalinić on loan to Toulouse Get French Football News
West Ham goalkeeper Roberto joins Alaves on loan FourFourTwo USA
Wolves make loan with option to buy bid for Dijon midfielder Enzo Loiodice - Get French Football News
Wolves make loan with option to buy bid for Dijon midfielder Enzo Loiodice Get French Football News
Brooklyn mall’s $487M tops outer-borough loan list The Real Deal
Exclusive: 'More than half of Premiership Rugby clubs exploiting loan loophole to move players off wage bill' - Telegraph.co.uk
Exclusive: 'More than half of Premiership Rugby clubs exploiting loan loophole to move players off wage bill' Telegraph.co.uk
‘Man Utd need a repeat of Larsson loan’ – Red Devils require another six players after poor recruitment, says Neville - Goal.com
‘Man Utd need a repeat of Larsson loan’ – Red Devils require another six players after poor recruitment, says Neville Goal.com
Jamie Murphy joins Burton on loan from Rangers FourFourTwo USA
Amber Beverage Group secures €27 million loan The Spirits Business
Manchester United cannot recall Alexis Sanchez from Inter loan to replace Marcus Rashford - The Telegraph
Manchester United cannot recall Alexis Sanchez from Inter loan to replace Marcus Rashford The Telegraph
Adama Diakhaby will join Nottingham Forest on loan with an option to buy tomorrow - Get French Football News
Adama Diakhaby will join Nottingham Forest on loan with an option to buy tomorrow Get French Football News
Nabil Bentaleb set to join Newcastle on loan from Schalke reserves until end of season four years after - The Sun
Nabil Bentaleb set to join Newcastle on loan from Schalke reserves until end of season four years after The Sun
Report: Atlanta United to send Andrew Carleton on loan to Indy Eleven Dirty South Soccer
Opinion: Interest on overseas student loans will only create more 'student loan exiles' - New Zealand Herald
Opinion: Interest on overseas student loans will only create more 'student loan exiles' New Zealand Herald
Opinion: With a reported £500000 loan fee; forward is a good back-up option for Spurs - The Spurs Web
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|