What Is Collateral for a Loan? Understanding Its Role and Importance

If you want to secure a loan with a lender, your best option is to use collateral. Buying a home, a much-awaited car, investing in a property, or anything, there is one answer to all: collateral loans to the rescue! However, if you, as a borrower, default on the loan, the lender will have all the rights to seize the collateral and recover the loss....