Daily Real Estate Exam Prep Question #29 - Loans

Daily Real Estate Exam Questions Here!!! Today our question has to do with loan and mortgage terminology. The official definition of a mortgage is a “legal agreement by which a bank or other creditor lends money at interest in exchange for taking title of the debtor's property, with the condition that the conveyance of title becomes void upon the payment of the debt.” Remember a mortgage is a lien on a property. -=-=-=-=- 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 -=-=-=-=-