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I've 3 loans through my mortgage lender.How are these secured on property?
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Re: Secured loan how is it secured on property.
If they are secured on the property, an entry is normally made on the Land Registry to that effect. -
Re: Secured loan how is it secured on property.
It means if you sell your house (or your house is forced to be sold), the mortgage will be paid first as the first charge on the house, the first secured loan second as the second charge on the house and so on. You won't receive one penny until all the loans have been paid out of the equity in your property.Comment
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Re: Secured loan how is it secured on property.
With very strong glue.Originally posted by maryanne58 View Post
(AASQ...)Comment
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Re: Secured loan how is it secured on property.
Though in the case of sub-primes, I believe they were screwed!Originally posted by CleverClogs View Post
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