Secured vs. Unsecured Loans – What’s the Difference and Why Does it Matter

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When it comes to borrowing money, it’s important to understand all aspects of the loan – not just your payment amount, interest rate, and number of payments to be made. There are many different types of loans including personal loans, auto loans, consolidation loans, mortgages, home equity, etc., however they all fall into one of 2 categories: secured or unsecured.

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