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Open end mortgage |
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Open End MortgageA mortgage permitting the mortgagor to borrow additional money under the same mortgage, with certain conditions, usually as to the assets of the mortgage.Open end mortgageMortgage against which additional debts may be issued. Related: Closed-end mortgage.Open end mortgage Similar MatchesInsured MortgageInsured MortgageA mortgage insured against loss to the mortgagee in the event of default and a failure of the mortgaged property to satisfy the balance owing plus costs of foreclosure. May be insured by F.H.A., V.A., or by private mortgage insurance companies. Mortgage Life InsuranceMortgage Life InsuranceA term life insurance policy for theamount of the declining balance of a loan secured by a mortgage or deed of trust. The beneficiary under the policy is the mortgagee. In the event of death (some policies also cover disability) of the insured (mortgagor), the mortgage is paid in full. Blanket MortgageBlanket MortgageA mortgage that covers at least two pieces of real estate as collateral for the same mortgage. Residential mortgageResidential mortgageMortgage on a residential property, tax-deductible for individuals up to $1 million. Mortgage deedMortgage deedThis is the agreement which explains the conditions of the mortgage (loan). It is a document to be signed by all parties to the remortgage on your property, and will be sent to HM Land Registry to register the remortgage. Further SuggestionsMortgage typesPurchase money mortgage Cap & collar mortgage Euro mortgage Deferred interest mortgage Junior mortgage General Mortgage Bond Consolidated mortgage bond Second Mortgage Mortgage cash surplus Federal National Mortgage Association Equitable Mortgage mortgage protection Closed end mortgage Federal Home Loan Mortgage Corporation (FHLMC) repayment mortgage variable rate mortgage Real Estate Mortgage Investment Conduit (REMIC) Blanket Mortgage Wrap Around Mortgage First mortgage All inclusive Trust Deed (wrap around mortgage) Mortgage application fee Cooperative mortgages Chattel mortgage |
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