Can I use someone else's collateral for a loan?
Curious about Collateral
No, you cannot use someone else's collateral for a loan without their permission. The person whose collateral is being used would have to agree to it and likely would need to cosign the loan or otherwise be involved in the application process. Additionally, the lender would need to verify ownership of the collateral and ensure that it meets their requirements for collateral. It is important to note that using someone else's collateral without their knowledge or consent could be considered fraud and could result in legal consequences.