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Question

What is a mortgage?

A It is the financial process of pooling various types of contractual debt such as auto loans or credit card debt obligations and selling said consolidated debt as bonds or other securities, to various investors. Correct Answer Incorrect Answer
B It refers to money held by a third-party on behalf of transacting parties Correct Answer Incorrect Answer
C It refers to the replacement of an existing debt obligation with another debt obligation under different terms. Correct Answer Incorrect Answer
D It is a security interest in real property held by a lender as a security for a debt, usually a loan of money. Correct Answer Incorrect Answer
E None of these Correct Answer Incorrect Answer

Solution

The correct answer is D

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