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The security for a loan is typically referred to as collateral. Collateral is an asset or property that the borrower pledges to the lender as assurance for repayment. If the borrower defaults on the loan, the lender has the right to seize the collateral to recover their losses. Common forms of collateral include real estate, vehicles, and financial accounts.
What else can I help you with?
What is the security for the repayment of a secured loan called?
Collateral.
What is clean loan?
Loan granted by the bank without accepting any security is called a clean loan. But the bank will safegaurd themselves by checking the repaying capacity based on the salary cerificate.
What is Security for a loan?
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.
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 is the remainder of the loan called?
remainder of the loan called
What is the security for the repayment of a secured loan called?
Collateral.
What is clean loan?
Loan granted by the bank without accepting any security is called a clean loan. But the bank will safegaurd themselves by checking the repaying capacity based on the salary cerificate.
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.
What is Security for a loan?
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.
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.
Does using your home for collateral put a lien on your home?
Yes. The lien created by using your home as security for a loan is called a mortgage.
When a auto loan personal loan and credit card loan are combined what is it called?
That is called a ACP Loan
What is the remainder of the loan called?
remainder of the loan called
