ou receive a Truth-in-Lending disclosure twice: an initial disclosure when you apply for a mortgage loan, and a final disclosure before closing
A mortgage is an arrangement between you and a lender that gives the lender the right to repossess your property if you fail to repay the loan plus interest. Mortgage loans are used to purchase a property or to borrow money against the value of an existing home.
A mortgage is a sort of loan, however mortgages are not all loans. Mortgages are loans that are "secured." A secured loan requires the borrower to pledge collateral to the lender in the event that they fail to make payments. The collateral in the case of a mortgage is the residence.
To know more about mortgage follow the link:
https://brainly.com/question/1318711
#SPJ4
