FinanceCâu 84 / 120
Which document contains the borrower's actual promise to repay the loan and the repayment terms?
a.The deed of reconveyance
b.The promissory note
c.The title commitment
d.The estoppel certificate
Giải thích
The promissory note is the borrower's written promise to repay the loan and sets out the amount, interest rate, and payment terms. The mortgage or deed of trust secures that note with the property. The note is the primary evidence of the debt.
Luyện miễn phí toàn bộ 120 câu hỏi — không cần đăng ký.
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