👉 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
