An arrangement where an owner of real property borrows money from a lender and pledges the real property as collateral to secure the repayment of the loan is known as ________.

Question

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A mortgage is a loan used to buy real estate, where the borrower (owner of the property) pledges the property as collateral to secure the repayment of the loan. Consignment is a different type of arrangement, where someone agrees to sell goods on behalf of another person or company. Foreclosure is a legal process where a lender takes ownership of a property due to defaults on mortgage payments. Assignment refers to the transfer of a legal right or interest from one person to another.

An Arrangement Where an Owner of Real Property Borrows Money