question 14 1 pts which of the following best defines a “purchase money mortgage”? 21 days to pay off the…

question 14 1 pts which of the following best defines a “purchase money mortgage”? 21 days to pay off the loan balance a single mortgage which covers several real - estate parcels a real estate mortgage which includes chattels, such as household appliances, as additional collateral a mortgage given as part or all of the consideration for the purchase of the property question 15 1 pts when a loan is obtained to purchase real property, and a note and trust deed is executed, the party that furnishes the funds is the: beneficiary grantee trustee trustor

question 14 1 pts which of the following best defines a “purchase money mortgage”? 21 days to pay off the loan balance a single mortgage which covers several real - estate parcels a real estate mortgage which includes chattels, such as household appliances, as additional collateral a mortgage given as part or all of the consideration for the purchase of the property question 15 1 pts when a loan is obtained to purchase real property, and a note and trust deed is executed, the party that furnishes the funds is the: beneficiary grantee trustee trustor

Answer

Brief Explanations:

For Question 14, a purchase - money mortgage is a mortgage given as part or all of the consideration for the purchase of the property. The other options do not match the definition. For Question 15, when a loan is obtained to purchase real property and a note and trust deed are executed, the party that furnishes the funds is the beneficiary. The grantee is the recipient of the property, the trustee is a neutral third - party in a trust deed arrangement, and the trustor is the borrower.

Answer:

Question 14: A mortgage given as part or all of the consideration for the purchase of the property Question 15: Beneficiary