Mortgage
Definition
A written document evidencing the lien on a property taken by a lender as security for the repayment of a loan. The term “mortgage” or “mortgage loan” is used loosely to refer both to the lien and the loan. In most cases, they are defined in two separate documents: a mortgage and a note.
Related Terms Other terms related to 'Mortgage' starting with the letter 'M' Mortgage bank, Mortgage insurance, Maximum lock, Minimum down payment, Mortgage lender
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