Final answer:
It is true that if a loan is cosigned and the borrower defaults, the lender can pursue the cosigner for repayment, including legal action and seizing assets, as the cosigner legally agrees to be responsible for the debt.
Step-by-step explanation:
If a loan is cosigned and the borrower defaults, the lender indeed has the right to sue the cosigner or attempt to seize the cosigner's assets just as if that person were the primary borrower. This is true because a 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. By cosigning, they accept liability for the debt and are on the hook for the loan obligations just like the original borrower.