Question

value: 1
what is used as collateral for a mortgage?
a. the home you are buying
b. the contract you sign
c. the money in your bank account
d. the items you purchase for the home

Explanation:

Collateral for a mortgage is an asset that the lender can seize if the borrower fails to repay the loan. A mortgage is specifically a loan to purchase real estate, so the property being bought serves as this security. Other options do not function as the core collateral for a mortgage: the contract is a legal agreement, bank funds are not tied as collateral, and home items are not the secured asset.

Answer:

a. the home you are buying