Dear PAO,
I am currently burdened with numerous bills, so I am contemplating obtaining a loan from my officemate's lending business, payable at a certain date. I have a house and lot, and I am considering constituting it as a real estate mortgage to serve as collateral for the payment of my loan. Upon learning of my plan, my friend generously offered to act as a guarantor for the payment of my loan should I fail to pay it upon maturity. However, my friend asked me two questions: Can he be immediately compelled to pay the said loan if I fail to do so at maturity? What rights, if any, will he have against me if he pays on my behalf?
