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