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Cosigner. may be needed – a person who agrees to repay the loan if the borrower does not; must have a good credit rating, stable job, and/or own property. 1. Secured Loans – collateral (property) needed to “back up” the loan in case you don’t pay it back. Car Loans. Mortgage Loan – a loan for property. usually for 15 – 30 years ... ................
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