Finance
Under Louisiana law, a mortgage is called a:
ADeed of trust
BConventional mortgage or collateral mortgage✓ Correct
CPromissory note only
DLis pendens
Explanation
In Louisiana, the security instrument for real estate loans is generally called a conventional mortgage or a collateral mortgage, not a deed of trust as in many other states.
Related Louisiana Finance Questions
- Which federal agency insures FHA loans?
- A 'hybrid ARM' in Louisiana is a mortgage that features:
- Which type of loan program is specifically designed to help low- to moderate-income buyers in rural Louisiana with 100% financing?
- A buyer makes a 10% down payment on a $250,000 home. What is the loan-to-value ratio?
- A Louisiana buyer applies for a USDA Rural Development Guaranteed Loan. A key eligibility requirement is that the property must be:
- In Louisiana, a 'partial release clause' in a blanket mortgage allows the mortgagor to:
- A 'due-on-sale' clause in a Louisiana mortgage requires:
- In Louisiana, a 'conventional mortgage' refers to:
Practice More Louisiana Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Louisiana Quiz →