What type of mortgage involves two or more parcels of real property pledged to secure payments of the note?

A blanket mortgage is a financing option that allows a borrower to use two or more parcels of real estate as collateral for a single loan. This type of mortgage is particularly beneficial for developers or real estate investors who need to acquire multiple properties under one loan agreement, streamlining the borrowing process and potentially allowing for better terms compared to securing individual mortgages for each parcel.

In a blanket mortgage, when one property is sold, a partial release of the mortgage may occur, which allows the specific property to be removed from the mortgage without affecting the loan secured by the remaining properties. This is advantageous for borrowers looking to manage multiple investments without the complication of numerous separate loans.

The other options represent different types of mortgage arrangements but do not relate to using multiple properties as security in the manner that a blanket mortgage does.