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Security for a Loan is nothing but some form of guarantee to the loan issuing bank that a major portion of the loan can be recovered even if the borrower (You or Me) defaults.
Ex: Spouse or a friend or bank deposit receipts or gold jewelery etc. The presence of such security would enhance our loan eligibility.
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∙ 15y ago
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What is meant by the term security when obtaining financing?
Security indicates something of value that is pledged against the loan. Pawn shops take valuables and loan money against them. The item is held as security or collateral for the loan. If the loan is not repaid, the pawn shop will sell the item to get their money back. When buying a car or a house, the vehicle or property usually stands as the security for the loan. If the loan is not paid, the loan company will take the vehicle or foreclose on the property so that they can sell it and get their money back.
What does clean loan mean?
It is a kind of loan where there is no primary or secondary security or collateral taken by the bank.
What is collateral loan market?
loan is a loan on a promissory note secured byMarket where short term loans secured by a asset that pledged as security for repayment of a loan
What something of value pledged as security for a loan?
Collateral
What is the security for the repayment of a secured loan called?
Collateral.
Can you buy rims with a auto loan?
No the car is security for the loan.
What is pledge loan?
pledged loan -- A mortgage loan that has been identified and set aside as security for borrowing by the holder of the mortgage; particularly a loan that has been pledged as security for an advance from a Federal Home Loan Bank.
Can someone on social security benefit's cosign for a loan?
Yes, someone on the social security can be able to cosign for a loan. The person cosigning the loan however has to have good credit regardless of his availability on the social security benefit.
Can social security take your check if you are a co-signer on a student loan?
If you are on social security you should not be cosigning on a student loan. You would be guaranteeing that if the student doesn't pay off the loan you will. The federal government can garnish your social security benefits to recover student loan payments.
What is meant by the term security when obtaining financing?
Security indicates something of value that is pledged against the loan. Pawn shops take valuables and loan money against them. The item is held as security or collateral for the loan. If the loan is not repaid, the pawn shop will sell the item to get their money back. When buying a car or a house, the vehicle or property usually stands as the security for the loan. If the loan is not paid, the loan company will take the vehicle or foreclose on the property so that they can sell it and get their money back.
Can a payday loan company get money from you if you are on Social Security?
Not likely. Most insurers, if they know that they are on social security benefits, would not loan the money to them.
What does clean loan mean?
It is a kind of loan where there is no primary or secondary security or collateral taken by the bank.
What is collateral loan market?
loan is a loan on a promissory note secured byMarket where short term loans secured by a asset that pledged as security for repayment of a loan
Can you get a loan for a mobile home as personal loan?
You can get a "personal property loan" for mobile homes as long as it's a loan for the home only.A personal loan is an unsecured loan in which you don't have to give any security. But some banks can ask for a guarantor or security. The terms and conditions varied as per lenders. The benefits are:Minimum documents required.
Can be used in security for borrowing meaning?
collateral for a loan
What something of value pledged as security for a loan?
Collateral
What is the security for the repayment of a secured loan called?
Collateral.
