What is the collateral on a mortgage or car loan?

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10-04-2020
Advanced Placement (AP)

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What is the collateral on a mortgage or car loan?

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mefwamage69 mefwamage69 · Answer 1 · 2020-04-10T06:48:02+02:00

mefwamage69 mefwamage69

10-04-2020

With a mortgage loan, the collateral is the home/property that the borrower is purchasing. An auto loan. Like with a mortgage loan, the collateral on auto loan is the vehicle the borrower is buying. A secured credit card.

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