TeachMeFinance.com - explain mortgage
Mortgage -- a lien on the property that secures the Promise to repay a loan.
Mortgage -- is a document
signed by a borrower when a home loan is made that gives the lender a right to take
possession of the property if the borrower fails to pay off the loan.
mortgage -- a legal document by which real property is pledged as security for the repayment of a loan; the pledge is canceled when the debt is paid in full.
Mortgage -- A mortgage is a lien or a conveyance for the security of a debt, which becomes void upon the payment of the debt. For additional information see Bond.
About the author
Copyright © 2005 by Mark McCracken, All Rights Reserved. TeachMeFinance.com is an informational website, and should not be used as a substitute for professional financial or legal advice. TeachMeFinance.com and its owner recommend consultation with a professional financial advisor prior to any investment or financial decision. Please read our disclaimer.