Legal analysis: a secured loan is a loan that takes the borrower's property or the property of a third party as the loan guarantee according to the loan contract or the borrower's agreement, and the third party bears joint and several liability for repayment if necessary.

Mortgage loan refers to the loan that the borrower obtains from the bank with certain collateral as guarantee.

Legal basis: Article 410 of the General Principles of the Civil Law of People's Republic of China (PRC) * * * If the debtor fails to perform the due debt or realize the mortgage right according to the agreement of the parties, the mortgagee may agree with the mortgagor to discount the collateral or give priority to compensation with the price of auction or sale of the collateral. If the agreement harms the interests of other creditors, other creditors may request the people's court to cancel the agreement.

If the mortgagee and the mortgagor cannot reach an agreement on the way to realize the mortgage, the mortgagee may request the people's court to auction or sell the mortgaged property.

Where the mortgaged property is discounted or sold, it shall refer to the market price.