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Term of the Day
portable mortgage
portable alpha
portable pension
Definition
Allows a
borrower
to
transfer
a
mortgage
from one
property
to another, while keeping the
same
rate
. However, the borrower must
pay
a
premium
on other
loans
of commensurate
value
, as well as
appraisal fees
and
title insurance
at the time of transfer.
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