Mortgage

 

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Mortgage

The 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.

Mortgage

A 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 Matches

Federal National Mortgage Association

Federal National Mortgage Association

In the US, a government-backed corporation which purchases mortgages from lenders and resells them to investors. It is financed by the issue of debt securities. Equity shares, known as Fannie Maes, are traded on the New York Stock Exchange.


Joint mortgage

Joint mortgage

A mortgage shared jointly between two people with the agreement that if one dies, the other automatically inherits their share.


Stripped mortgage backed securities (SMBS)

Stripped mortgage backed securities (SMBS)

Securities that redistribute the cash flows from the underlying generic MBS collateral into the principal and interest components of the MBS to enhance their attractiveness to different groups of investors.


Shared Appreciation Mortgage (SAM)

Shared Appreciation Mortgage (SAM)

A mortgage with a low rate of interest, offset by giving the lender some portion of the appreciation in the value of the underlying property.


Mortgage arrears

Mortgage arrears

The amount of back pay you owe your mortgage lender for failing to meet your mortgage requirements.


Further Suggestions

Guarantee mortgage
Mortgagee
Mortgage interest deduction
Mortgage code arbitration scheme
Mortgage cash surplus
Portable mortgage
Package mortgage
repayment mortgage
All inclusive Trust Deed (wrap around mortgage)
Lifetime reverse mortgage
Deferred interest mortgage
variable rate mortgage
Federal National Mortgage Association (FannieMae)
adjustable rate mortgage
First Mortgage
Mortgage term
mortgage backed security
Mortgage confirmation
Chattel Mortgage
reverse mortgage
Federal National Mortgage Association
Owner Will Carry Mortgage
Senior mortgage bond
Mortgage lien
interest only mortgage


 
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