Monday, February 11, 2008

Mortgage


A mortgage is a method of using property (real or personal) as security for the performance of an obligation, usually the payment of a debt. A mortgage is a monetary lien on a personal or real property.

The term mortgage (from old French, lit. dead pledge[1][2]) refers to the legal device used for this purpose, but it is also commonly used to refer to the debt secured by the mortgage, the mortgage loan.

LINK...Mortgage

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