Mortgage

Mortgage,

Definition of Mortgage:

  1. Convey (a property) to a creditor as security on a loan.

  2. A legal agreement by which a bank or other creditor lends money at interest in exchange for taking title of the debtors property, with the condition that the conveyance of title becomes void upon the payment of the debt.

  3. A legal agreement that conveys the conditional right of ownership on an asset or property by its owner (the mortgagor) to a lender (the mortgagee) as security for a loan. The lenders security interest is recorded in the register of title documents to make it public information, and is voided when the loan is repaid in full.

    Virtually any legally owned property can be mortgaged, although real property (land and buildings) are the most common. When personal property (appliances, cars, jewelry, etc.) is mortgaged, it is called a chattel mortgage. In case of equipment, real property, and vehicles, the right of possession and use of the mortgaged item normally remains with the mortgagor but (unless specifically prohibited in the mortgage agreement) the mortgagee has the right to take its possession (by following the prescribed procedure) at any time to protect his or her security interest. In practice, however, the courts generally do not automatically enforce this right when it involves a dwelling house, and restrict it to a few specific situations. In the event of a default, the mortgagee can appoint a receiver to manage the property (if it is a business property) or obtain a foreclosure order from a court to take possession and sell it. To be legally enforceable, the mortgage must be for a definite period, and the mortgagor must have the right of redemption on payment of the debt on or before the end of that period. Mortgages are the most common type of debt instruments for several reasons such as lower rate of interest (because the loan is secured), straight forward and standard procedures, and a reasonably long repayment period. The document by which this arrangement is effected is called a mortgage bill of sale, or just a mortgage.

Synonyms of Mortgage

Mortgage, Put up as collateral, Guarantee, Pawn, Credit, Advance, Adjustment mortgage, Antichresis, Blanket mortgage, Bond, Bottomry, Bottomry bond, Chattel mortgage, Closed mortgage, Dead pledge, Deed of trust, Deposit, Dip, First mortgage, Go bail, Handsel, Hock, Hypothec, Hypothecate, Hypothecation, Impignorate, Installment mortgage, Leasehold mortgage, Lien, Living pledge, Mortgage deed, Mortuum vadium, Participating mortgage, Pawn, Pledge, Post, Put in hock, Put in pawn, Put up, Second mortgage, Security agreement, Spout, Stake, Third mortgage, Trust mortgage, Vadium mortuum, Vadium vivum

How to use Mortgage in a sentence?

  1. I put down a hundred thousand in cash and took out a mortgage for the rest.
  2. I could not go out with my friends to the restaurant because I had too many bills to pay, plus the mortgage was due.
  3. The family was worried about being able to afford their mortgage after their mother got laid off of her job.
  4. The estate was mortgaged up to the hilt.
  5. It is always important to make your payments on time and stay up to date to get rid of your mortgage as quick as possible.

Meaning of Mortgage & Mortgage Definition

Mortgage,

What is The Definition of Mortgage?

  • A mortgage is a security that guarantees certain properties that the borrower must pay at a fixed rate of repayment.

    • Mortgages are also known as expenses on property or property claims.
    • With a fixed mortgage rate, the borrower pays the same interest rate over the life of the borrower.
    • Non-banks are also part of the growing debt market.

  • Mortgage can be defined as, Loans taken by banks, construction companies, etc. to buy a property or land, are usually repaid with interest at regular intervals every month for many years. Borrowing from banks, etc. Using your property as a suicide attack gives the lender the right to make you the owner of their property if the loan fails.

  • You can define Mortgage as, A loan that you take out to buy a property whose property has been attacked. This means that if you fail to pay, the lender can make property predictions.

  • The definition of Mortgage is: Legal action against immovable property (as opposed to immovable property) that guarantees compliance with financial obligations. Mortgage lenders commit suicide through mortgage borrowers (homeowners).

  • Mortgage can be defined as, Real estate, usually buy real estate ltd. Loan The borrower guarantees the repayment of the loan. It provides the property to the lender as a suicide attack.

  • Mortgage means: A loan instrument used in real estate transactions where the property is mortgaged as collateral for the loan. The mortgage gives the lender the right to own the property if the lender fails to repay the loan. See mortgage questions.

  • The definition of Mortgage is: Mortgage related notes

  • Legal means that generally verify the real security of immovable property. The mortgage serves as a security for the promise.

Meanings of Mortgage

  1. A legal arrangement under which a bank or other lender charges money at interest in exchange for allocating the borrower's property, provided that the transfer of the property is reversed by the repayment of the loan.

  2. Describe the lender (property) as a suicide attack for a loan.

Sentences of Mortgage

  1. I deposited one lakh cash and took the remaining installments

Mortgage,

Mortgage:

  1. A written instrument that creates a real estate pledge to guarantee certain debt repayments.

  2. Meaning of Mortgage: Used by buyers to raise money to buy the property, while the property is guaranteed which is guaranteed

  3. The definition of Mortgage is: A temporary loan, also known as a mortgage, to finance the purchase of a property.

  4. A legal agreement that gives the lender (mortgage lender) conditional rights to an asset or property for a loan as collateral. The lender's guarantee will be posted in the real estate registry for public disclosure and will be canceled after full disbursement of the loan.