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Foreclosure – That is a legal method where collateral that has been pledged for your personal loan can be offered to be able to repay the loan In the event the borrower defaults.
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Debit card – This is a card issued by a financial institution or A few other fiscal institution and infrequently employed for purchases. The acquisition is deducted straight from a examining account.
Secured mortgage – This is a bank loan in which the borrower will pledge his asset just like a motor vehicle or dwelling that will be bought if He's not able to pay back back again the mortgage.
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