TermLoans & mortgages
Secured vs unsecured loan
Secured loans are backed by an asset (like a house or car); unsecured aren't.
Watch out for this
Secured loans cost less but the lender can seize the asset if you default.
About this entry: short by design — every term in The Money Translator gets a one-sentence definition and a one-sentence reason to care. Some terms get deeper guides under the work.