Can a co-signer act as collateral?
Curious about Collateral
No, a cosigner and collateral are two different things. A cosigner is a person who agrees to take responsibility for repaying the loan if the borrower is unable to do so, while collateral is a property or asset that is pledged as security for the loan. If the borrower defaults on the loan, the lender can seize the collateral to recoup the losses.