Because lenders are sometimes reluctant to lend large sums of money simply on the borrower's promise to repay,many of them take a security interest in the property purchased or some other property of the debtor.

Question

Quizplus · Accepted Answer

This statement is true. Lenders often take a security interest in property or other assets to secure the loan and ensure repayment.

Because Lenders Are Sometimes Reluctant to Lend Large Sums of Money