If a loan is cosigned and the borrower defaults, the lender has the right to sue the cosigner or try to seize the cosigner's assets just as if that person were the borrower.

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When a loan is cosigned, the cosigner agrees to take on the financial responsibilities of the loan if the primary borrower defaults. This means the lender can pursue the cosigner for repayment, including suing or seizing assets, just as they would with the original borrower.

If a Loan Is Cosigned and the Borrower Defaults, the Lender