A mortgage, or more precisely a mortgage loan, is a long-term loan used to finance the purchase of real estate. As the borrower, or mortgager, you repay the lender, or mortgagee, the loan principal plus interest, gradually building your equity in the property.
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Fortunately, the definition of mortgage has a somewhat interesting origin. You’ve undoubtedly heard the word "mortgage" thrown around a million times. But you may not know that in the literal sense, it is defined as a "death pledge" in the French language.
Mortgage definition, a conveyance of an interest in property as security for the. Here are some that might not mean what you thought. at least when they were.
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mortgage definition: 1. an agreement that allows you to borrow money from a bank or similar organization, especially in order to buy a house, or the amount of money itself: 2. to borrow money to buy a house: 3. an agreement that allows you to borrow money from a bank or similar organization by..
mortgage – a conditional conveyance of property as security for the repayment of a loan
A mortgage is a debt instrument, secured by the collateral of specified real estate property, that the borrower is obliged to pay back with a.
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Definition of mortgage: A legal agreement that conveys the conditional right of ownership on an asset or property by its owner (the mortgagor) to a lender (the.
A mortgage is a loan in which property or real estate is used as collateral. The borrower enters into an agreement with the lender (usually a bank) wherein the.
Mortgage definition is – a conveyance of or lien against property (as for securing a loan) that becomes void upon payment or performance according to stipulated terms. How to use mortgage in a sentence.