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Amy from Lake Orion asks about a mortgage deed and its implications after her private lender stated she must pay off a ballooned loan within 30 days to avoid foreclosure. The speaker notes that Michigan does not use mortgage deeds, and emphasizes their experience in dealing with similar inquiries, particularly from real estate investors in Ohio and Michigan. They compare a mortgage deed to a land contract, explaining that such documents can have complex legal implications, but the specifics of Michigan's property laws make the situation unique.