Finance
In Minnesota, a 'blanket mortgage' covering multiple properties allows the lender to:
AOnly foreclose on one property at a time
BSecure the loan with multiple properties as collateral, potentially foreclosing on any or all covered properties upon default✓ Correct
CReduce the interest rate for the borrower
DTransfer the mortgage to another lender automatically
Explanation
A blanket mortgage in Minnesota uses multiple properties as collateral for a single loan. If the borrower defaults, the lender may foreclose on any or all of the encumbered properties.
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