Question

The Smiths are purchasing a completely furnished cottage on a lake. They have obtained a deed of trust loan to cover the price of the property, including all furnishings and appliances. This type of financing is called a(n):____________

Answer 1

The type of financing that includes the purchasing of furnished cottage on a lake with the full deed is called as a package deed of trust

Explanation:

Package deed of trust will involve the third party and they will serve as the trustee in between the lender and the borrower and the property will be in the hands of the trustee until the lender pay off the the loan

This will transferred with the legal property and they will hold the security loan and it will be made equitable and the title will remain with the borrower until they pay of the money