A party who borrows money to buy a home and signs an agreement giving the bank the right to repossess the home in case of default is called a:
A)mortgagor.
B)guarantor.
C)creditor.
D)trustee.

Question

Quizplus · Accepted Answer

A mortgage is a security interest in real property or a deed to real property that is given by the owner (the mortgagor)as security for a debt owed to the creditor.

A Party Who Borrows Money to Buy a Home and Signs