Mortgage Loans

What are Mortgage Loans?

Mortgage loans are loans which have been secured on an interest in property.

To secure the mortgage loan, the interest is transferred from the borrower (mortgager) to the lender (mortgagee). In the event that the loan is not repaid, the lender may foreclose and take the property.

A business mortgage loan or commercial mortgage loan, is a loan secured on the property of a business used to buy a new building or release equity from an existing one.

For further information on mortgage loans see the Wikipedia definition.

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Last modified March 23rd, 2016 by Team

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