What is the difference between a secured loan and a mortgage?

Answer A secured loan is a type of debt that has some type of collateral attached to it. A mortgage is a secured loan collateralized by a house. A secured loan can be collateralized by any asset, from cas... Read More »

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What is the difference between a secured and unsecured loan?

Secured and unsecured loans are two types of ways people borrow money. The major difference is that secured loans use collateral.FunctionA secured loan has a specific piece of property used as coll... Read More »

What is the difference between a mortgage and a home equity loan?

Mortgages and home equity loans both use the value of your home to secure the loan. However, the functions of these loans differ.PurposeA mortgage is the original loan taken out to finance a home. ... Read More »

Is a car loan considered a secured loan?

Yes, a car loan is typically considered a secured loan because the value of the vehicle is used to guarantee repayment of the loan. If the borrower stops making payments, the borrower can take or r... Read More »

What is a secured mortgage?

Secured transactions are transactions in which a creditor has a security interest in property held by the debtor. A common form of a secured transaction is a mortgage, in which the bank or mortgage... Read More »