Question

What is a mortgage?

Answer 1

Mortgage is a type of loan used to buy property. Correct answer: B

It is a loan from a bank or a financial institution that helps the borrower purchase a house. According this agreement  the lender has the right to take your property if you fail to repay the money youve borrowed plus interest.

Answer 2

Answer:

Mortgage is a type of loan used to buy property.

Explanation:

Mortgage is a type of financing modality. If one wishes to buy property in this way, the security will be the good itself. This way, the title of the property stays in the name of the lender until the payment is completed. It is one of the main ways of granting credit for buying a home in the United States.