what is collateral?\no a type of unsecured credit\no property given as security for a loan\no funds borrowed…

what is collateral?\no a type of unsecured credit\no property given as security for a loan\no funds borrowed to buy property\no a payment to reduce overall debt

what is collateral?\no a type of unsecured credit\no property given as security for a loan\no funds borrowed to buy property\no a payment to reduce overall debt

Answer

Brief Explanations:

Collateral is an asset pledged to a lender to secure repayment of a loan. If the borrower defaults, the lender can seize the collateral. It is not unsecured credit, borrowed funds, or a debt - reducing payment.

Answer:

property given as security for a loan