mortgage


Definition
A loan to finance the purchase of real estate, usually with specified payment periods and interest rates. The borrower (mortgagor) gives the lender (mortgagee) a lien on the property as collateral for the loan.


Related Terms

assumable mortgage -  More

chattel mortgage -

closed-end mortgage -  More

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mortgage is ...

... part of the Lending & Credit and Real Estate subjects.

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