The conversation between human and AI assistant.
What are secured loans? How do they work?
Are there any risks involved with secured loans?
Yes, there are risks involved with secured loans, particularly if the borrower is unable to repay the loan. In this case, the lender may repossess the collateral and sell it to recoup their losses. It's important for borrowers to carefully consider the terms and conditions of the loan before taking out a secured loan and to ensure they can make the repayments as required.