In a mortgage loan, the borrower always creates two documents: a note and a mortgage. Which of the following pieces of information is provided in the mortgage?
A) How the interest rate is to be computed.
B) Whether the borrower has the right to prepay the principal during the term of the loan, and any prepayment penalties that would be incurred as a result.
C) Whether the borrower is released from liability for fulfillment of the contract.
D) An unambiguous description of the property that is being pledged as collateral for the loan.
Correct Answer:
Verified
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Q15: Violations of the requirements of a note
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