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 secured loan in which the borrower pledges the real property as collateral to secure the repayment of the loan. Consignment refers to a situation where an owner leaves goods with a consignee to be sold and receives payment only when the goods are sold. Foreclosure refers to the legal process of taking possession of a mortgaged property when the borrower fails to make the loan payments. An assignment refers to the transfer of ownership of property or rights from one party to another.

An Arrangement Where an Owner of Real Property Borrows Money