Junk bond billionaire Ira Rennert has a massive house in the Hamptons. It's also pretty controversial. The business mogul, who Forbes says is worth $5.9 billion, was recently in court defending the funding of his Sagaponack estate.
Title loan. In the United States, a car title loan, is a type of secured loan where borrowers can use their vehicle title as collateral. Borrowers who get title loans must allow a lender to place a lien on their car title, and temporarily surrender the hard copy of their vehicle title, in exchange for a loan amount. When the loan is repaid, the lien is removed and the car title is returned to its owner.
Lender's title insurance is a requirement in most states to close on a mortgage. But the lender's version only protects the lender up to the amount of the mortgage, and it doesn't protect your equity in the property.