Asked by
Betsyy Ibanez
on Nov 28, 2024
Verified
Mortgage loans are contracts.
Mortgage Loans
A loan secured by the collateral of some specified real estate property which the borrower is obliged to pay back with a predetermined set of payments.
- Understand the principle and legal obligations associated with mortgages, emphasizing the need for formal written contracts.
Verified Answer
AC
Learning Objectives
- Understand the principle and legal obligations associated with mortgages, emphasizing the need for formal written contracts.