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Joined October 28th, 2013
A secured loan is a debt where the borrower puts up an asset as collateral for the loan. Secured debt might involve an automobile or a second mortgage on your home. Because the creditor's loan is secured by this collateral, lenders take possession of the asset, if the debtor stops making payments. The type of secured loan people think of when borrowing money is a loan secured by real property or real estate. You can also use "movable property" as securities in a secured loan. Movable property i…