Author Archives: C.J. Gordon

Borrowers can choose from 4 different types of secured loans: repossession, foreclosure, non-recourse loans, and mortgage loans. With mortgage loans, financial institutions require that some property serves as collateral. Borrowers who default on their loans can lose the asset they have pledged. Mortgage loans come in a great variety, including lifetime mortgages, wraparound mortgages, reverse mortgages, biweekly mortgages, participation mortgages, reverse mortgages, and others. Borrowers looking for secured loans can take a participation mortgage, which is a type of loan extended to multiple investors. A wraparound mortgage represents a type of seller financing, which is secondary financing. Continue reading →