What Is Loan ?

What Is Loan ?

Question of what is loan is described  as under....

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An arrangement in which a lender gives money or property to a borrower, and the borrower agrees to return the property or repay the money, usually along with interest, at some future point(s) in time. Usually, there is a predetermined time for repaying a loan, and generally the lender has to bear the risk that the borrower may not repay a loan (though modern capital markets have developed many ways of managing this risk A loan is a financial transaction in which one party the lender agrees to give another party the borrower a specific amount of money which must be paid back in full.

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What is a loan?
What is the difference between all the kinds of loans?
Bad credit loans
Tips on taking out a loan
Secured loan
Repayment tips
Interest rates
Dealing with debt
About credit history
Loans and motoring
Loans for the home
Loans and travel
Special occasions
Loans glossary



Types of Loan.

Loans come in all shapes and sizes but overall there are two main types, secured and unsecured loans. With a secured loan the lender can force the sale of the asset the borrower has offered as security against the loan. On the other hand for an unsecured loan the lender relies on the borrower's promise to pay the money back. Whether it's called a loan modification, mortgage modification, restructuring, or workout plan, it's when a borrower who is facing great financial hardship, having difficulty making their mortgage payments and is facing foreclosure, works with their lender to change the terms of their mortgage loan to make it affordable. The workout plan varies by lender.
guaranteed loans are made by private lenders, such as banks, savings & loans, or mortgage companies to eligible veterans for the purchase of a home, which must be for their own personal occupancy. The guaranty means the lender is protected against loss if you or a later owner fails to repay the loan.


What Is Loan ?