Difference between revisions of "Mortgage"
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| − | A '''mortgage''' is granting of a [[lien]] on real property, such as a home, by a [[debtor]] (borrower) to his [[creditor]] (lender), such that the property is security for the repayment on a loan. Once the loan is paid, the mortgage is discharged. | + | A '''mortgage''' is granting of a [[lien]] on real property, such as a home, by a [[debtor]] (borrower) to his [[creditor]] (lender), such that the property is security for the repayment on a [[loan]]. Once the loan is paid, the mortgage is discharged. |
[[Category:Legal Terms]] | [[Category:Legal Terms]] | ||
| + | == External links == | ||
| + | |||
| + | *[http://dictionary.law.com/ Law Dictionary] | ||
| + | *[http://research.lawyers.com/glossary/ Glossary of Legal Terms] | ||