Mortgage   Everything you need to know about mortgages.

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what is...
MORTGAGE
A written document evidencing the lien on a property taken by a lender as security for the repayment of a loan. The term "mortgage" or "mortgage loan" is used loosely to refer both to the lien and the loan. In most cases, they are defined in two separate documents: a mortgage and a note.
ALSO SEE: DEPARTMENT OF VETERAN AFFAIRS, SCHEDULED MORTGAGE PAYMENT, NON-CONFORMING MORTGAGE, INTEREST RATE CEILING, AMORTIZATION SCHEDULE, INTEREST ACCRUAL RATE, MANDATORY DISCLOSURE, ONE-YEAR ADJUSTABLE, CONFORMING MORTGAGE, FIXED RATE MORTGAGE, MORTGAGE INSURANCE, ASSUMABLE MORTGAGE, BIMONTHLY MORTGAGE, QUALIFYING RATIOS, BIWEEKLY MORTGAGE, 40-YEAR MORTGAGE, BALLOON MORTGAGE, NEGATIVE POINTS, HOUSING EXPENSE, SECOND MORTGAGE, JUMBO MORTGAGE, INTEREST RATE, DEED OF TRUST, RETAIL LENDER, WAIVE ESCROWS, UNDERWRITING, AMORTIZATION, LOAN AMOUNT, TEASER RATE, FORECLOSURE, FREDDIE MAC, SETTLEMENT, FANNIE MAE, PREPAYMENT, COLLATERAL, ASSUMPTION, MATURITY, SERVICER, RATE, ARM

    Courtesy of the Mortgage Glossary
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