Finance
In Kansas, a mortgage note is best described as:
AThe document pledging the property as collateral
BThe personal promise to repay the debt✓ Correct
CThe deed transferring title to the lender
DThe escrow instructions for closing
Explanation
The note (promissory note) is the borrower's personal promise to repay the debt. The mortgage is the security instrument that pledges the property as collateral.
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