Current Mortgage Rates

Friday, March 19, 2010




Glossary of Terms

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Personal Loan

An unsecured loan, which means a borrower does not put up any collateral or security to guarantee the repayment of the loan. For this reason, personal loans carry high interest rates. If a borrower owns a home, a lower-interest-rate alternative is a home-equity loan. But this option requires that the borrower put up his or her home or other real estate property as collateral. Your best loan option is the loan that best meets your needs.