noun a legal agreement by which a bank or other creditor lends money at interest in exchange for taking title of the debtor's property, with the condition that the conveyance of title becomes void upon the payment of the debt.
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In the real estate field, a mortgage is a loan taken out to purchase a property, with the property itself serving as collateral for the loan.
Mortgages are a common financial product used by individuals to finance the purchase of a home or property.
Some insurance products, such as mortgage insurance, protect lenders in case the borrower defaults on the mortgage loan.
Banks and financial institutions offer mortgage loans to individuals and businesses for the purpose of buying real estate.
Mortgage-backed securities are investment products that are backed by a pool of mortgages, providing investors with a way to earn returns based on mortgage payments.
A writer may use the term 'mortgage' when writing about personal finance or real estate topics in articles, blogs, or books.
A psychologist may discuss the impact of mortgage stress on mental health or use examples of financial stress related to mortgages in therapy sessions.
A real estate agent helps clients navigate the process of obtaining a mortgage to purchase a home or property.
A financial advisor may provide guidance on choosing the right mortgage option based on a client's financial goals and situation.
A banker works with clients to approve mortgage applications, set interest rates, and manage the financial aspects of lending for home purchases.