Daily Real Estate Exam Prep Question #169 - Mortgages

Daily Real Estate Exam Questions Here!!! Today our question has to do with mortgages. A mortgage is a promise of property to the lender as security of payment for the debt. Sometimes you’ll see the borrower referred to as the mortgagor and sometimes you’ll see the lender referred to as mortgagee. It’s important to note people will sometimes use the word mortgage and loan interchangeably. This is technically inaccurate even though a lot of people do it. Mortgage is really a pledge of property as security while loan is a thing borrowed, usually money. This is a drastic difference and when you get your license you must know the difference. #realestate #realestateexam #realestatelicense -=-=-=-=- Don’t forget to like and subscribe for more! Want to learn more about the smart way to get your real estate license and start a successful real estate career? Then make sure to visit the Real Estate License Wizard, getting started is easy. Just click the page below: https://realestatelicensewizard.com -=-=-=-=-