Secured Party

Definition of "Secured party"

Lender who possesses the collateral of the borrower if the loan is defaulted upon.

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FAQ

I looked at a property yesterday with a REALTOR® who seems to be clueless. I am really interested in purchasing the property, though. Can I switch agents and still make the purchase? What is underwriting? What is a term? What is an assessed value? What is a default?