Released: July 29, 2008

You can use CD as collateral for a loan

Source: Dan Thanh Dang, Baltimore Sun (Free Registration)

The credit crisis has made getting a loan a little more difficult these days.

Frank Micriotti of Middle River wants to know why more people don’t take advantage of certificate of deposit loans.

“I’d like to educate the general public in our general area that this might be an option they might want to consider,” Micriotti said. “If you have a certificate of deposit, you can use it as a collateral loan. You have to be wise about it and you have to know what the positives and negatives are before you do it. 

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