Mortgage

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 should be discharged.

Hypothecation refers to the right that a creditor has to liquidate goods, securities, or other assets, if you fail to service a loan.

A sub-prime mortgage is one where the borrower has a demonstrated inability to abide by the terms of a credit obligation.

See also[edit]

• Financial Crisis of 2008
• Recession of 2008
• Glossary of Budget Terms
• Accounting
• Mortgage insurance
• Free Enterprise

External links[edit]

• Mortgage Calculators
• Law Dictionary
• Glossary of Legal Terms