QUESTION 2 Sam and Joe have recently engaged and plan on moving into a new home in Spring. They have agreed that they want to make an investment in this home, as it will be their family home in years to come. Joes gross income will not grant him the large mortgage that he requires to purchase the family home. Sam and Joe decide to request a joint mortgage from their bank. A mortgage is a loan from a bank or other financial institution that helps a borrower purchase a home. The collateral for the mortgage is the home itself, meaning that if the borrower does not make monthly payments to the lender and defaults on the loan, the bank can sell the home and recoup its money. Identify and provide a detailed discussion of the types of express mortgages that Joe and Sam would need to consider before requesting from their bank. Outline examples in each instance to support your answer. (15 Marks)