Question

Which term describes the right of a lender to sell collateral to get back the principal if the borrower cannot repay the loan?Select one of the options below as your answer:
A. collateral
B. interest
C. lien

Answer 1

Im pretty sure it is

A. Collateral

Answer 2

Actually it might be

C. lien

Answer 3

Yea sorry for the confusion its definetly Lien

Answer 4

@popogirl95

Answer 5

the bank will only give you a loan if they can take away something from you if you don't pay, and that will be your home as collateral.

Answer 6

What do you think @Luis_Rivera

Answer 7

A lender's interest, also known as a lien

Answer 8

Lawrence got a car loan from a bank, with the car as collateral. What kind of loan did he get?
A. a secured loan
B. an unsecured loan
C. a fixed-rate loan

Answer 9

i checked, and its actually "lien"

Answer 10

I knew it

Answer 11

thanks dude

Answer 12

k

Answer 13

What about her next question? @Luis_Rivera

Answer 14

I think secured loan

Answer 15

A.

Answer 16

Thank you so much guys

Answer 17

No problem

Answer 18

@popogirl95