A Special Contract in Which the Borrower Pledges the Mortgaged

question 6

Multiple Choice

A special contract in which the borrower pledges the mortgaged property as security to the lender is commonly referred to as the:

• A) Mortgage (Deed of Trust)
• B) Listing Contract
• C) Note
• D) Assignment of Mortgage

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Definitions:

Consumer Information

Details or data about products and services designed to assist individuals in making informed purchasing decisions.

False Pretenses

Instances where an individual deliberately and falsely represents facts to deceive others, often for personal gain.

Fair Credit Billing Act

A U.S. federal law designed to protect consumers from unfair billing practices and to provide a mechanism for addressing billing errors on credit accounts.

Disputed Amount

The portion of a bill or invoice that is not agreed upon by the parties involved, leading to a potential conflict or claim.