Finance
A buyer in New Mexico takes out a mortgage loan. The document that pledges the property as collateral for the loan is called:
AA promissory note
BA deed of trust or mortgage✓ Correct
CA warranty deed
DA quitclaim deed
Explanation
A deed of trust (or mortgage) pledges the property as collateral for the loan. The promissory note is the borrower's promise to repay the debt.
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