Finance
A Michigan homeowner who uses their property as collateral for a business loan creates what type of lien?
AVoluntary specific lien (mortgage)✓ Correct
BInvoluntary general lien
CMechanic's lien
DJudgment lien
Explanation
When a homeowner voluntarily pledges their property as collateral for a loan, this creates a voluntary specific lien (mortgage) — voluntary because the owner consented, specific because it applies to a specific property.
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