Please Note: Once your assignment is submitted and graded, the grade will be final, no re-submissions will be allowed.

Questions:

1. Is the Grantor in a Grant Deed the buyer or seller ? Is the Mortgagor the lender or borrower ? Is the Trustor the lender or borrower ? Is the Optionor the buyer or owner (seller) ?

2. Please define what a "Purchase Money Mortgage" is.

3. Please explain what a "Wraparound Mortgage" is and how it works.

4. Please explain what a "Lease/ Option" is and how it works.

5. Briefly explain what "Equity" is in real property.