During my financial crisis, I was really confused whether to go for a secured loan or unsecured loan to overcome my financial disaster. Some people suggested me to go for secured loan and some for the unsecured loan. And I really didnt know which to choose. Then I decided to go to the credit counselor to know what he suggests. He suggested me secured homeowner loan by taking into account my credit situation. Before I tell you why he suggested me the secured homeowner loan; I want you to know my state of affairs.
I was in need of the money urgently for my business.
The amount I wanted was large.
I was a homeowner.
Another thing I required was the longer repayment period.
Credit counselors told me that rather than go for any unsecured loan I should opt for secured loan as I am a homeowner, as secured homeowner loan will enable me to satisfy all my conditions. Some of the features of secured homeowner loan are:
Secured homeowner loans are granted against the equity in the house.
They are also known as second charge loans or second mortgage loans.
They provide a longer repayment period because of the security...
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