Finance
In Ohio, which document pledges the real property as collateral for a loan?
APromissory note
BMortgage✓ Correct
CDeed of trust
DSatisfaction of mortgage
Explanation
The mortgage is the security instrument that creates a lien against the property as collateral for the loan. Ohio is a mortgage state (lien theory), not a deed of trust state.
Related Ohio Finance Questions
- In Ohio, which of the following is an example of a 'hard money' loan?
- An adjustable-rate mortgage (ARM) in Ohio includes a 'cap' provision that:
- What is the loan-to-value (LTV) ratio and why does it matter?
- An Ohio buyer obtains a VA loan. Which of the following is TRUE about VA loans?
- A reverse mortgage in Ohio is designed primarily for:
- In Ohio, which document serves as evidence of the borrower's personal obligation to repay the mortgage debt?
- Under Ohio law, a lender who violates TILA disclosure requirements may face:
- Under the Community Reinvestment Act (CRA), federally regulated lenders are required to:
Practice More Ohio Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Ohio Quiz →