A ______________ is a long-term debt instrument for which real estate is used as collateral to secure the loan in the event of a default by the borrower.

Question

Quizplus · Accepted Answer

A mortgage is a long-term debt instrument that is secured by real estate as collateral. In the event that the borrower defaults on the loan, the lender can use the property as collateral to recover the amount owed. The other answer choices are not directly related to real estate collateral.

A ______________ Is a Long-Term Debt Instrument for Which Real