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Answered

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2. Choose the correct answer.
A(n).
lien holder
is a person, company, or bank that lends the money for the purchase of a vehicle.
escrow
mortgage
rebate



Answer :

GinnyAnswer

Final answer:

Explanation of cosigner, collateral, and mortgage in lending practices.


Explanation:

Cosigner is another person or firm who legally pledges to repay some or all of the money on a loan if the original borrower does not. Collateral refers to something valuable, often property or equipment, that a lender can seize and sell if the borrower does not repay the loan. A mortgage is a special type of loan where the borrower purchases real estate with borrowed funds, using the property as collateral.


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