Define mortgage

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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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What is a mortgage?

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Question

Updated 12/29/2014 9:01:40 AM

1 Answer/Comment

alfred123

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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