If you take out a secured loan, does it prevent you from selling your house?
sometimes
NO. A home mortgage is a secured loan on the house. When you sell your house the title most be free of liens and a mortgage is a lien. As long as you pay back the loan in full, the lien goes away and can transfer to a new owner.
Depends on what the Security Or collateral is for the loan.
If the collateral is the a/c unit belonging to the house then you need to satisfy it when you sell. you can pay it at closing or you can before. Auto loans are secured loans but have no influence on the sale of your home. If your secure loan defaults, and wins a 'judgement' in court then it can.
If you're at that stage the creditor can file a 'lis pendens' and you will not be able to sell the house w/out a clouded title.
no, never
No but you have to pay it back when you sell it
No cause it can be secured on your house meaning your have to sell ya house to pay all the debt off if you cant afford it
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