Mortgage contracts grant the lender the right to be paid from the cash proceeds of the sale of a borrower's assets identified in the mortgage.

Name: Mortgage contracts grant the lender the right to be paid from the cash proceeds of the sale of a borrower's assets identified in the mortgage.
Brand: Quizplus
Rating: 4.9 (56 reviews)

Question

Quizplus · Accepted Answer

This is a defining feature of mortgage contracts, as they provide security for the lender by allowing them to recoup their investment through the sale of the borrower's assets.

Mortgage Contracts Grant the Lender the Right to Be Paid