Which of the following documents must be executed at closing to create a binding relationshipbetween the property being offered as collateral and the loan financing it?An escrow agreement and a mortgageA promissory note and a mortgage or deed of trustA promissory note and a property conveyance binderA mortgage or a deed of trust and a recordable affidavit

When any property is mortgaged as collateral for financing than it is necessary to make certain…

Answered: An escrow agreement and a mortgage A…

An escrow agreement and a mortgage A promissory note and a mortgage or deed of trust A promissory note and a property conveyance binder A mortgage or a deed of trust and a recordable affidavit

Personal Finance

13th Edition

ISBN:9781337669214

Author:GARMAN

Publisher:GARMAN

Chapter9: Obtaining Affordable Housing

Section9.3: The Steps In Home Buying

Problem 5CC

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Question

Which of the following documents must be executed at closing to create a binding relationship
between the property being offered as collateral and the loan financing it?
An escrow agreement and a mortgage
A promissory note and a mortgage or deed of trust
A promissory note and a property conveyance binder
A mortgage or a deed of trust and a recordable affidavit

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