👉 The term "resecure" is typically used in a legal context to mean to make sure that something has been done or is being done correctly. It can also refer to securing an object, such as a document or a tool, with a secure method or technique. In more general terms, resecurement refers to the act of ensuring that something is done properly and without any issues or defects.
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What is the definition of Resecured? 🙋
👉 Resecured is a financial concept in which an existing loan or credit line is renewed with new terms and conditions, typically at lower interest rates. This strategy helps to protect the borrower from defaulting on the original loan by extending the repayment period and increasing the interest rate for the same duration of time as the original loan term. Resecurities can be categorized into two main types: secured loans and unsecured loans. Secured loans are those that have a collateral attached, such as real estate or personal
