Union Home Mortgage Review – Secured vs Unsecured Personal Loans (Explained!)
Union Home Mortgage Review – How to Choose
Secured vs Unsecured Personal Loans (Explained!). We break down which is better between an unsecured and secured personal loans. Jeff breaks down these installment loans work and why you might consider them. To be clear, we are in no way saying that you need a personal loan. You need to do what is right for your particular situation.
What is a secured personal loan? The best examples are auto loans and mortgages, both of which are backed by an asset, or collateralized. The mortgage is backed by your home in the event that you default. The auto loan is backed by your car in the event of a default.
What is an unsecured personal loan? The best example here is a debt consolidation loan. These are often utilized by people with plenty of outstanding debt, including credit card debt. You can consolidate it all and pay it off via one lender with one payment portal, interest rate, and payment.
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