Search results
Results from the WOW.Com Content Network
The creditor's rights against the debtor and the lessor's rights against the lessee are based on the credit documents and the lease, respectively, and not the financing statement. Pursuant to the standards set forth in the UCC, at 9-503 and 9–504, the financing statement need only contain three pieces of information: the debtor's name and address
A secured loan is a loan in which the borrower pledges some asset (e.g. a car or property) as collateral for the loan, which then becomes a secured debt owed to the creditor who gives the loan. The debt is thus secured against the collateral, and if the borrower defaults , the creditor takes possession of the asset used as collateral and may ...
HELOCs are usually offered at attractive interest rates. This is because they are secured against a borrower’s home and thus seen as low-risk financial products. However, because the collateral of a HELOC is the home, failure to repay the loan or meet loan requirements may result in foreclosure. As a result, lenders generally require that the ...
Types of secured loans. There are many types of secured loans. Five of the most common include: Mortgage: With a mortgage, you put your home or property up as collateral to buy that home.If you ...
Key takeaways. Passbook loans are secured loans that use your savings account balance as collateral. These loans can be a convenient way to borrow money while rebuilding your credit, as some ...
A Sarasota real estate business may still be liable for $1.3 million in loans even after police arrested a pair of Parrish residents in January on charges they improperly took control of the ...
Secured transactions in the United States are an important part of the law and economy of the country. By enabling lenders to take a security interest in collateral (that is, the assets of debtors ), the law of secured transactions provides lenders with assurance of legal relief in case of default by the borrower.
When such an ARM reaches its adjustment period, the Secured Overnight Financing Rate plays a big role in determining whether your loan’s interest rate gets cheaper—or more expensive.