if a borrower provides collateral and fails to repay the loan, the borrower may cancel the loan to get the…

if a borrower provides collateral and fails to repay the loan, the borrower may cancel the loan to get the collateral. the lender can sell the collateral to cover losses. the borrower must buy the collateral back. the lender keeps the collateral in case of late payment.

if a borrower provides collateral and fails to repay the loan, the borrower may cancel the loan to get the collateral. the lender can sell the collateral to cover losses. the borrower must buy the collateral back. the lender keeps the collateral in case of late payment.

Answer

Brief Explanations:

When a borrower defaults on a loan after providing collateral, the lender has the right to sell the collateral to recoup losses. This is a standard practice in lending to mitigate risk.

Answer:

the lender can sell the collateral to cover losses.