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Mortgage |
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MortgageThe name given to a loan used to buy a property.Mortgage(1) To hypothecate as security, real property for the payment of a debt. The borrower (mortgagor) retains possession and use of the property. (2) The instrument by which real estate is hypothecated as security for the repayment of a loan.MortgageA loan in which the borrower (the mortgagor) offers a property and land as security to the lender (the mortgagee) until the loan is repaid. Repayments of the loan are usually made on a monthly basis over a long period of time, typically 25 years. In the UK, the most common forms of mortgage are the repayment mortgage and the interest only mortgage.Similar MatchesAdjustable rate mortgageAdjustable rate mortgageIn the US, a mortgage in which the interest rate is liable to change over the term of the loan and which is dependent on influences such as interest rates on US Treasury securities. Chattel MortgageChattel MortgageA loan agreement that grants to the lender a lien on property other than real estate. Chattel is personal or movable property. Low start mortgageLow start mortgageThis is like a repayment mortgage, but with a difference. In the introductory period, only interest is paid back to the lender and not any of the capital outstanding. After this period, the repayments start in earnest. The total amount of interest and repayments over the life of the year are higher than with a normal repayment mortgage, but this sacrifice can be worth it if you need to severely restrict your outgoings during the low start period. Mortgage cash surplusMortgage cash surplusMoney left over at the end of a mortgage term, over and above the amount required to pay back the debt. Blanket MortgageBlanket Mortgage(1) A mortgage covering more than one property of the mortgagor, such as a mortgage covering all the lots of a builder in a subdivision. (2) A mortgage covering all real property of the mortgagor, both present and future. When used in this meaning it is also called a "general mortgage". Further SuggestionsSecond mortgage lendingMortgage Insurance Delinquent mortgage Deferred interest mortgage Buy down mortgage Mortgagee senior mortgage bond discounted rate mortgage Private Mortgage Insurance (PMI) Stepped discount mortgage Equity linked mortgage Mortgage Life Insurance repayment mortgage Mortgage servicing Stepped fixed rate mortgage Conventional mortgage Wraparound mortgage Lifetime reverse mortgage Graduated Payment Mortgage All inclusive Trust Deed (wrap around mortgage) Repayment mortgage GEM (growing equity mortgage) Federal National Mortgage Association Chattel mortgage Government insured mortgage |
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