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Define mortgage
•A mortgage is the transfer of an interest in property (or the equivalent in law - a charge) to a lender as a security for a debt - usually a loan of money.
Expert answered|workaholicmom|Points 339|
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Asked 9/13/2010 12:24:56 PM
Updated 8/6/2015 1:42:41 PM
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This answer has been confirmed as correct and helpful.
Edited by yumdrea [8/6/2015 1:42:39 PM], Confirmed by yumdrea [8/6/2015 1:42:41 PM]
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Questions asked by the same visitor
What is a mortgage?
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Question
Updated 12/29/2014 9:01:40 AM
1 Answer/Comment
Mortgage: A debt instrument, secured by the collateral of specified real estate property, that the borrower is obliged to pay back with a predetermined set of payments.
Added 12/29/2014 9:01:40 AM
This answer has been confirmed as correct and helpful.
Confirmed by yumdrea [12/29/2014 9:04:09 AM]
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