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Zack Silva
Advanced Placement (AP)
19 July, 13:20
What is the collateral on a mortgage or car loan?
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Shaniya Rubio
19 July, 13:29
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With a mortgage loan, the collateral is the home/property that the borrower is purchasing. An auto loan. Like with a mortgage loan, the collateral on auto loan is the vehicle the borrower is buying. A secured credit card.
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