What Is a Cross Collateral Loan?

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A cross lateral loan is a loan that is used a collateral or assurance for another loan. A cross lateral loan will mainly occur in the same bank for example; where an individual has a loan for a car then he can take out another loan for a house where the car will act as the collateral for the second loan hence meaning he can only dispose off the car only when he finishes paying the loan for the house.
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What Is a Cross Collateral Loan?
Cross-collateral loans serve a variety of purposes, ranging from allowing families to move into larger homes as they grow to providing investors the chance to use the equity in their property to expand their portfolios. Not every lender, however, is... More »
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Q&A Related to "What Is a Cross Collateral Loan"
A person owning a house that has a lot of equity in it might need to purchase a larger home. In most cases, this means having to sell the first home to have the money to buy the second
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1 Figure out the amount of money that you need. Borrowers should avoid taking out excessive collateral loans or any other kinds of lending, because they will usually be paying much
http://www.wikihow.com/Get-a-Collateral-Loan
Money from one account is taken to be used as repayment for another.
http://wiki.answers.com/Q/What_is_Cross_collateral...
Collateral covering several loans under a single security agreement, also called a dragnet clause. In essence, collateral for each loan backs the entire package of loans. Language
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A person owning a house that has a lot of equity in it might need to purchase a larger home. In most cases, this means having to sell the first home to have the ...
A person owning a house that has a lot of equity in it might need to purchase a larger home. In most cases, this means having to sell the first home to have the ...
A person owning a house that has a lot of equity in it might need to purchase a larger home. In most cases, this means having to sell the first home to have the ...
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