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Typically, these loans may be categorized into two major varieties: secured and unsecured loans. Secured loans require collateral, often the house itself, which might supply decrease rates of interest however carries the chance of losing the home if repayments fall behind. Unsecured loans, however, do not require collateral and thus pose less risk to the homeowner, although they could include larger interest rates. Understanding the differences between these varieties is crucial when deciding which possibility suits your monetary needs b