This is a loan or line of credit that is guaranteed by an asset. In mortgage lending that asset is the property and enables the lender to recuperate their loan should the borrower not be able to repay it, this is done by selling the asset.
This is a loan or line of credit that is guaranteed by an asset. In mortgage lending that asset is the property and enables the lender to recuperate their loan should the borrower not be able to repay it, this is done by selling the asset.