Common Contracts
1 similar Collateral Loan Agreement contracts
Collateral loan agreement formCollateral Loan Agreement • January 3rd, 2021
Personal loans that require collateral are called secured loans. Collateral is personal property that has the value that the borrower provides to the lender as an appointment to pay the loan. Borrowers need to make a list of assets to know what types of collateral are available for secured personal loans. Collateral required for a personal loan includes certificates of deposits, vehicles, real estate, savings accounts, stocks, land, jewelry and bonds. When a borrower chooses to use their home as collateral, the loan is called a home equity loan or a second mortgage. Personal loan collateral can be used by various lenders. Pawnsies, for example, usually accept jewelry. Automobiles for short-term personal loans for electronic devices such as computers. When borrowing money from a bank, the borrower can use the title of the car, or a savings account, if they own a car. When trying to get a personal loan that requires collateral, the borrower should not ask for more money than necessary. T
