secured loans
Collateral-backed debt arrangements
Secured loans are loans backed by collateral—property the lender can seize if the borrower defaults.
Mortgages and car loans are typical examples: miss enough payments and the bank takes the house or repossesses the vehicle.
Because the lender has this security, interest rates are usually lower than on unsecured loans like credit cards.
- collateralSecurity for debt
- lienClaim securing debt
- borrowerOne who takes temporarily
- mortgageSecured home loan
- foreclosureLender seizes mortgaged property
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Credit without collateral
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