Purchased a RV, as second home, loan is with Bank of America. Is a security interest loan considered a secured loan?

JL16 · ‎June 4, 2019

MinhT · ‎June 4, 2019

A security interest loan is loan secured by assets of the borrower, in this case most probably by a lien on your RV.

In this case, the RV can be considered as a second home if it has sleeping, cooking and toilet facilities and the interest on the loan can be claimed as mortgage interest.

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View solution in original post

MinhT · ‎June 4, 2019

A security interest loan is loan secured by assets of the borrower, in this case most probably by a lien on your RV.

In this case, the RV can be considered as a second home if it has sleeping, cooking and toilet facilities and the interest on the loan can be claimed as mortgage interest.

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

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Purchased a RV, as second home, loan is with Bank of America. Is a security interest loan considered a secured loan?