Choose the odd one?
A) credit
B) Mortgage
C)Debt
B)Bank
Answers
Answered by
1
Concept: Mortgage is a conveyance of an interest in real property as security for the repayment of the loan.
Debit and credit both are used for purchasing something in cash.
Find: Find dd one ?
Solution: Credit, Debt and Bank
These three are related to the cash but mortgage is related to an assets.
Final answer: Odd one is Mortgage.
#SPJ3
Answered by
0
Mortgage is a conveyance of an interest in real property as security for the repayment of the loan.
- Debit and credit both are used for purchasing something in cash.
What is mortgage give example?
- A mortgage is a loan provided by a mortgage lender or a bank that enables an individual to purchase a home or property.
- While it's possible to take out loans to cover the entire cost of a home, it's more common to secure a loan for about 80% of the home's value.
- The loan must be paid back over time.
What are the 3 types of mortgage?
- Conventional loan, Best for borrowers with a good credit score.
- Jumbo loan , Best for borrowers with excellent credit looking to buy an expensive home.
- Government-insured loan, Best for borrowers who have lower credit scores and not much cash for a down payment.
Is mortgage an asset?
- At a very basic level, an asset is something that provides future economic benefit, while a liability is an obligation.
- Using this framework, a house could be viewed as an asset, but a mortgage would definitely be a liability.
- Most people who own a home have a mortgage but also have equity built up in that home.
- These three are related to the cash but mortgage is related to an assets.
Hence, Mortgage is a conveyance of an interest in real property as security for the repayment of the loan.
#SPJ2
Similar questions