Cash for collateral!!!?

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Robert20

Joined: 08 Apr 2011
Robert20's page
Posts: 8

132 Magic Points

Subject: Cash for collateral!!!?

Fri Apr 08, 2011 3:23 pm

Again, sorry for all the threads, I just found this forum and I have many questions.

Can a person borrow money from a bank using money for collateral?

For example, use 25k as collateral for a loan for that amount or lesser.

If so, can that person use some or all of the money put up to secure the loan?

____________________________________
Alfredo Piacentini

#anonymous
Guest

Mon Apr 11, 2011 11:29 am

I simply didn't get your query. Why would a person take a loan if he already had that money? Well if it's a policy, he might take a loan depending on his policy terms.

sdchargers_63

Joined: 13 Aug 2007
sdchargers_63's page
Posts: 1889

1387 Magic Points

Subject: credit

Wed Apr 13, 2011 11:51 am

Some banks will let you use your savings account for 'collateral' for loans. I agree with ;Guest'. I'm not quite sure what your asking either, Robert. Can you clarify please?

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