A secured loan is a loan backed by collateral, reducing the lender's risk in case of default. Examples include mortgages and car loans.
A secured loan is a type of loan that requires the borrower to back it with collateral, such as a house or a car, to reduce the lender's risk. This collateral can be seized by the lender if the borrower defaults on the loan. Examples of secured loans include mortgages and car loans.
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