What is the element of risk for the borrower

There has to be careful monitoring of the loan taken against the security of the property because non-payment of the loan in time or default here can cause quite some bit of problems. There is the security of the property that is available with the bank in this type of loan. In case there is a default and the borrower refuses to pay up even after the necessary process and notice is given then the lender can seize the property and sell this off to recover the loan amount. This can prove to be a hit for the borrower who could lose the ownership of the property and the consequent problems in case such a situation is actually witnessed.