Finance
A mortgage note is best described as:
AThe security instrument pledging the property as collateral
BThe borrower's written promise to repay the loan✓ Correct
CA lender's commitment to provide financing
DA title insurance policy for the lender
Explanation
A mortgage note (promissory note) is the borrower's written, unconditional promise to repay the loan according to the stated terms. The mortgage or deed of trust is the security instrument.
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