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define collateral
Question
Asked 5/9/2012 9:36:33 AM
Updated 7/7/2018 3:56:44 AM
1 Answer/Comment
This conversation has been flagged as incorrect.
Flagged by alfred123 [7/7/2018 3:56:24 AM]
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User: define collateral

Weegy: Real property consists of houses and land. [ This type of property is a good form of collateral, because, if the borrower defaults on the loan and the property is foreclosed on, it has "real" market value to the bank or landlord, who can then re-sell or re-rent it to someone else and try to recoup their losses. ]
ramkitten|Points 7315|

Question
Asked 5/9/2012 9:36:33 AM
Updated 7/7/2018 3:56:44 AM
1 Answer/Comment
This conversation has been flagged as incorrect.
Flagged by alfred123 [7/7/2018 3:56:24 AM]
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Collateral is a property or other asset that a borrower offers as a way for a lender to secure the loan.
Added 7/7/2018 3:56:44 AM
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