Mortgage
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Definition:
A Mortgage can refer to one of the following:
1. A loan (mortgage loan) used to finance the purchase of property.
2. A security (mortgage debt) for a loan made to a borrower by a lender, secured by real estate collateral. The borrower promises to pay back the loan with fixed payments over time. In the event of payment default, the lender takes possession of the property used as collateral.
Related Concepts:Amortization
Collateral
Fixed Income
Lien
Mortgage Backed Security
Subprime Lending
Available Positions Related to Morgage:Retail Banking & Consumer Finance jobs
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