Question

secured loans and unsecured loans
use what you have learned about secured and unsecured loans to complete these sentences.
a loan that is associated with a valuable asset that can be taken by the lender is
ray needs to get a new set of tires for her car, so she uses her credit card. if she does not pay her bills, there is no asset that can be seized. this means her loan is
jack agrees to take out a mortgage. if he fails to make his payments, the b is

Explanation:

A secured loan is backed by collateral (a valuable asset), which the lender can take if the borrower defaults. An unsecured loan has no such asset - collateral. A mortgage is a secured loan as the property is collateral. A credit - card loan is unsecured as there's no specific asset tied to it for seizure.

Answer:

1. a secured loan
2. an unsecured loan
3. a secured loan