Due to the short term nature of the loan, the lenders are able to use a different set of criteria than those required for long - term, higher - risk circumstances. (onlineloanbiz.com)
The secured nature of the loan does not, however, mean that repayment of the loan is guaranteed because the loan outstanding may exceed the property net sale proceeds. (lendinvest.com)
The unsecured nature of these loans results in a higher interest rate than some secured loans. (valuepenguin.com)