Sentences with phrase «collateral of a specific property»

Mortgage — This term is used in real estate loans; with a mortgage, money loaned is secured by collateral of a specific property and a borrower is required to pay it back in a set number of payments.

Not exact matches

For an education loan plan up to a specific amount, no collateral is necessary for a higher loan amount (usually above 7.5 Lakhs), security in the form of fixed deposit, property or other bank approved collateral is required.

The opposite of secured debt / loan is unsecured debt, which is not connected to any specific piece of property and instead the creditor may only satisfy the debt against the borrower rather than the borrower's collateral and the borrower.

A secured debt has one or more specific items of property attached to it, known as collateral.

Pertaining to rights in specific real or personal property as collateral for a debt, whether entered into voluntarily or involuntarily as a matter of law.

There's some kind of deed, a trust deed in many states, which evidences the fact of a specific property acting as collateral on that loan.