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Can you use as collateral for a personal loan a 25 percent share in an inherited piece of property that is currently for sale?
Wiki User
∙ 14y ago
You could try using bridging finance as a temporary option, as this can be used to bridge whilst properties are sold, they would need full details of ownership and the co signees may also have to agree as it would be a charge on the property so be prepared for a few grand solicitors bills to get that equity limitation sorted out
Wiki User
∙ 14y ago
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What is the difference between collateral and mortgage?
Typically a mortgage is a loan secured by real property (land!) and collateral is personal property (jewels, bonds, valuables, etc.) used to secure a loan.
If I default on my personal loan agreement, can they repossess my collateral?
Your property can be subject to repossession if you default on a loan. This can be the case if you put up part of your collateral as a guarantee for your loan.
What kind of collateral is used for a personal loan?
It depends on the type of personal loan. It is possible to get a loan using only a good credit score as collateral. If you do not have good credit, it is still possible to get a loan without collateral, but you can expect to pay a much higher interest rate. It is also possible to use a vehicle or property as collateral.
A written claim to some piece of property?
collateral
What is colleteral?
Collateral is the property a borrower pledges to a lender in a loan. This property secures the lender's interest. A house is the collateral on a mortgage loan.
What is the difference between collateral and mortgage?
Typically a mortgage is a loan secured by real property (land!) and collateral is personal property (jewels, bonds, valuables, etc.) used to secure a loan.
If I default on my personal loan agreement, can they repossess my collateral?
Your property can be subject to repossession if you default on a loan. This can be the case if you put up part of your collateral as a guarantee for your loan.
What kind of collateral is used for a personal loan?
It depends on the type of personal loan. It is possible to get a loan using only a good credit score as collateral. If you do not have good credit, it is still possible to get a loan without collateral, but you can expect to pay a much higher interest rate. It is also possible to use a vehicle or property as collateral.
Will pawn shops take pewter?
Any item of personal property, used as collateral, may secure a loan
What is considered abandoned personal property in Nevada?
Any property that is not currently being maintained is considered abandoned personal property in Nevada. Anything can happen to this material if not claimed.
Can you use the house you inherited as collateral to pay off creditors the estate owes to pay them off?
Yes, this can be done. There may have to be a new mortgage before the property can change hands.
A written claim to some piece of property?
collateral
What is the noun of collateral?
Collateral is an adjective that is frequently used elliptically as a noun. The bank wanted collateral (property) to secure the loan. It is understood that the property is offered collaterally to secure the loan so the noun 'property' is omitted.
What is colleteral?
Collateral is the property a borrower pledges to a lender in a loan. This property secures the lender's interest. A house is the collateral on a mortgage loan.
What is heir property?
It is property that is inherited.
What is property used to secure a loan?
Collateral
Can the remainder man of property use the property as collateral for more property?
By live a honest way.
