From Debt Free Dude
- Credit card --credit cards are a way to borrow money from a third party to pay for a purchase.
- Home equity loan --a Home Equity Loan is the borrowing funds while using one's home as collateral.
- Home equity line of credit --There are many different types of debt:
- Mortgage --a mortgage occurs when a lender accepts a pledge from the owner of a property that the lender will receive that property in case the borrower cannot repay the mortgage loan.
- Auto loan --an auto loan involves a person requesting funds from a third party in order to purchase a vehicle.
- College loan --college or student loans provide a fairly reasonable way for students to borrow funds to pay for school.