To grant or convey, as property, for the security of a debt, or other engagement, upon a condition that if the debt or engagement shall be discharged according to the contract, the conveyance shall be void, otherwise to become absolute, subject, however, to the right of redemption.

Hence: To pledge, either literally or figuratively; to make subject to a claim or obligation.

A conditional conveyance of property as security for the payment of a debt or the performance of a duty, that becomes void upon payment or performance according to the stipulated terms; usually applicable to personal or real property. (See chattel mortgage).

MP] A written document evidencing the lien on a property taken by a lender as security for the repayment of a loan.

Security in the form of real estate for the performance of an obligation. The real property in question always remains in the hands of the debtor or mortgagor. Should the obligation not be satisfied, the creditor or mortgagee may exact payment from the proceeds of the sale of the mortgaged property.

A property pledge that is used as security for loan repayment.

The security to be provided against a loan.

A conditional transfer or pledge of real property as security for the payment of a debt; also, the document used to create a mort- gage lien.

A mortgage is a loan specifically for buying a house or similar property.

An interest in land that is created by a contract as security for a loan made by the lender to the borrower.

The name given to a loan used to buy a property.

A loan secured by a pledge of specified real property.

A mortgage is a loan secured on your home. Because your home is pledged as security, the lenders retain the title deeds until you repay the debt. If you fail to make the repayments as agreed, the lenders can apply to a court to sell the property and get their money back. Building societies currently provide the majority of new mortgages in the UK. Since 1980 banks have also offered home loans, and other sources include insurance companies, specialist lenders and local authorities. There are two main types of mortgage - you can choose between making a regular monthly payment or a repayment mortgage, or two regular monthly payments, one of interest to your lender and one of premium to an insurance or investment company. The latter happens when you have an endowment, unit-linked, pension linked, or personal equity plan-linked mortgage. The usual mortgage term in the UK is 25 years. The interest on most mortgages varies with market rates, though there are occasional fixed-rate offers.

Literally "dead pledge". To grant or convey property on condition that a debt will be paid.

A pledge or security for the payment of a debt.

A long-term loan to buy a house or other high price property.

Its most common use is as a lien on real estate. When more than one mortgage is recorded against a piece of property, they are listed by order of recording and referred to as first mortgage, second mortgage, etc.

The name given to loans where land is the security. They are usually loans for a period of years at a prescribed rate of interest which is to be paid periodically (usually at half-yearly intervals). The borrower gives the lender a legal claim to the property in the event of interest not being paid, or the capital returned to the mortgagee at the end of the period of years. In such event the mortgagee can foreclose and sell the property at auction. If the sale realises more than the loan plus expenses of selling, the balance is returnable to the mortgagor. A mortgage on a property already mortgaged is a second mortgage. It ranks after the first mortgage at settlement in the event of foreclosure. Legal mortgage is one where the borrower, known as the mortgagor, executes a deed charging his property in favour of the lender, who thus becomes the mortgagee. Such a deed contains a proviso for redemption entitling the mortgagor to a re-conveyance of his property on repayment of principal together with interest and costs to the mortgagee. cf Equitable charge Lien

This is any loan which is collateralized by a home or other real estate. The lender files a lien with the court system which gives them the right to foreclose on (take over) the property should the borrower default on the loan.

A loan, usually for house purchase, and for which the house is the security or collateral. It gives to the lender certain rights in the property, including the power to sell if the mortgage payments are not made.

A long term loan to fund the buying of a property.

A deed by which a borrower charges his property as security for the repayment of a loan.

The promise to pass the title of the property to the lender if the debt is not repaid according to terms.

The mortgage is the transfer of rights to the property to a lender in return for borrowing funds. The rights are transferred back to the owner when the loan is paid in full.

A transfer of rights to a piece of property (such as a house) usually in return for a loan. A mortgage is canceled when the loan is fully paid back.

This has come to mean a loan made by a lender to a borrower, with property as security.

Security over property such as land for the repayment of money borrowed.

a loan acquired for purchasing a home or other property. Like other loans a mortgage has a time period and a rate of interest. 'Paying off' a mortgage means making regular payments of interest and at the same time some payment to reduce the principal (the amount borrowed). Mortgages can be set for short or long periods of time.

Security for a loan generally taken over real estate.

A sum of money advanced by a lender (such as a bank or building society) on the security of a property and repayable over a long period.

A mortgage is a legal security, registered on Title, for a loan on the property you own. As such, it is your agreement that you will repay the loan according to the terms and conditions of the loan. As a financial charge (encumbrance) registered on Title, it is also your pledge of the property as security for the loan in the event of default (non-payment).

This is a loan to help you buy the house. The mortgage is 'attached' to your title deeds, and means that you cannot sell the property without paying it off at the same time. Contracts should not be exchanged until an acceptable written mortgage offer has been received. It is not enough that you have had verbal confirmation from you bank or building society that they will grant you a mortgage. In many cases a mortgage may be supported by an endowment, pension or mortgage protection policy and in these circumstances we must confirm to the lender, before exchange of contracts, that there are existing policies or arrangements have been made for new policies to be brought into effect immediately contracts are exchanged. If you are selling, we will contact your mortgage lender at an early stage to ask how much it will cost to pay off the mortgage - we will send you a copy of this figure. You may find that you will be charged a financial penalty if you pay the mortgage off early. This is a consideration to be taken into account when agreeing a completion date, and often applies when your existing mortgage was set up on a fixed rate, or you obtained a 'cashback' figure.

A loan made for real property, a home, or office building for example, where the property is the security for the repayment of the loan or debt.

A loan used to purchase your property. The property is used as security in the event that you do not pay your mortgage payments.

The formally registered transfer of an interest in land for the purpose of securing the repayment of a loan or other debt.

Any charge on any property for securing money or money's worth.

If you are financing your real estate, the property you are financing is used as collateral against the amount of money you are financing or borrowing. The mortgage is the security instrument.

a loan, usually to buy property, which serves as security for the loan; to take out a loan with a property as security.

Transfer of rights to a property for the payment of a loan, which is released upon the debt being paid in full

Money is borrowed from a lender to buy property. The lender registers the debt (the mortgage document ) against the property to ensure the money is repaid. If the mortgage payments are not made, the lender can start foreclosure proceedings. alphabetical index | | site plan

A legal document that uses real property as collateral on a loan.

a legal agreement that allows someone to get financing for home, under certain conditions, by promising to repay the loan and the specific way.When this type of loan is defaulted on, the house can usually be repossessed by the lender or by the government agency that has secured or in short of the mortgage.When this happens, the House is often made available as a repossessed property to the public.

A loan commonly used to buy a house. The house is used as security until you've paid off the loan (usually after a fixed length of time). There are three main types of mortgage: Repayment - you make payments, usually monthly, which go towards paying off both the capital (the amount you borrowed) and the interest. At the end of the agreed length of time, you will have paid off the whole of the loan. Interest only - you pay only the interest on your mortgage. You make arrangements to pay the capital at the end of the agreed length of the mortgage. Endowment policies, ISAs or pensions can be used to repay the capital. Flexible - you can repay more capital when you want to, and can take a break from payments for an agreed length of time.

is the security which is pledged to the lender which controls the risk a lender takes. In most cases a home or property is the security to the lender.

A longterm loan, which is secured on property, generally your main home. You receive 10% tax relief on the interest on loans used to purchase your home up to a value of £30,000.

Keeping property with the lender for repayment of debt.

A mortgage is a legal loan secured against the value of your home, where secured represents the Lenders requirement for a way to reclaim financial restitution if mortgage payments are not met.

A legal document signed as security for the repayment of money when you borrow money to purchase property.

A legal agreement pledging a property to a lender as security for the payment of a debt.

A legal document that pledges a property to the lender as a security payment for debt.

Collectively, the security instrument, the note, the title evidence, and all other documents and papers that evidence the debt.

A legal document that establishes real estate as the security for the loan which finances that real estate. Colloquially, the term "mortgage" is sometimes used to refer to the loan itself.

A contract that makes a specific property the security for the payment of a debt.

An instrument used in some states as a claim in real estate pledging the subject property as collateral for a mortgage loan and terminating once the loan is paid in full.

A mortgage is both a loan used to purchase or refinance a home and a security for the repayment of the loan.

A security agreement between the lender and the buyer in which the property is collateral for the loan. The mortgage gives the lender the right to collect payment on the loan and to foreclose if the loan obligations are not met.

a form of loan where the property being mortgaged is pledged as security for the repayment of the loan. If the borrower defaults, the lender can foreclose and have the property sold to recover payment.

This is a form of hypothecation of the property to the HFI. There are three types of mortgage. They are: Equitable mortgage - where the mortgage is by way of deposit of title deeds i.e. all the documents of the property have to be deposited with the HFI. Mortgage by way of Memorandum of Entry - In this case you have to sign a declaration stating that you are mortgaging the property to the HFI. This declaration is then entered into the Memorandum of Entry of Mortgage that can be enforced in case you default in the payment of installments. Registered mortgage or English mortgage - This is the safest form of mortgage for a HFI. No documents of the property are required to create this kind of a mortgage. You just need to enter into a mortgage deed with the HFI, which needs to be stamped and registered for it to be enforceable. This is an expensive way to create a mortgage.

A conditional transfer of property (house) as security for a loan. The property remains in the possession of the borrower but may be claimed by the lender if the loan and interest are not paid according to the agreed terms.

Loan issued for the purchase of a home or property. There are several different types of mortgages

A loan that is offered to buy a property. An interest rate is charged for that. All the mortgages are secured against a property. There are various types of mortgages such as car mortgage, home mortgage, buy to let mortgage etc.

A loan to buy a building or piece of land.

A long-term loan that you secure on a property.

A financial agreement between a lender and a buyer in which the property is used as collateral for the loan. A mortgage gives the lender the right to collect payments on the loan (and to foreclose on the property if those payments are not made).

A loan to purchase a house where a claim, or lien, against the house is given by the buyer to the lender as security.

The instrument that evidences an interest in real estate and created to provide a pledge as security for the performance or repayment of a loan. The borrower (i.e. mortgagor) retains possession and use of the property.

A loan for which the security is a property.

A loan with a property pledged to guarantee repayment.

The lender who makes a mortgage loan.

Mortgage Backed Security Mortgage Banker

A legal document that pledges property to a lender as security for the repayment of the loan. Reference: Fannie Mae website.

A written agreement describing a debt and stating that there is a lien against the specified property to secure payment of the debt. The lender is the mortgagee; the payor is the mortgagor. Also called a deed of trust.

A lien against a property that secures a mortgage loan or note

A legal instrument wherein property is used to secure the payment of a debt.

Puts up the title to real property as security for a mortgage loan and therefore protects the lender in case of default. Mortgagee: A person or company who loans money for the purchase of real property.

A loan on real property given as security for the payment of an obligation.

Lien on real property used to secure a debt.

A lien or claim against real property given by the buyer to the lender to secure the debt. Under government-insured or loan-guarantee provisions, the payments may include escrow amounts. Generally mortgages run from 10 to 30 years, during which time the loan is to be paid off. Should be recorded in the County Recorders Office.

A conveyance of title to property that is given as security for the payment of a debt. NOTE: In the province of Quebec, it is a real right on property securing the performance of an obligation, without relinquishment of its owner.

Most people purchase properties with the aid of a mortgage and this means that the lender has an interest in the property which is registered at the Land Registry. This in effect means that for you to be able to sell a property you will have to redeem the mortgage with your lender. The Buyer's Solicitors are in charge of checking the mortgage offer to ensure that all of the mortgage conditions can be complied with prior to proceeding to exchange of Contracts.

(a) a conveyance of or lien against property that is defeated upon payment or performance according to stipulated terms. (b) the instrument evidencing the mortgage.

An instrument by which the borrower gives the lender a lien on property (commonly real estate) as security for the payment of an obligation. The borrower continues to use the property; when the obligation is fully extinguished, the lien is removed.

A document drawn up between a borrower and lender, giving the lender a conditional right to property as security for the money lent.

A written pledge of real property to assure payment of a debt, allowing for sale of the real property to satisfy the debt, in event of default. Also known as “deed of trust.

A lien against the property that secures the repayment - in some areas, also known as a deed of trust.

Document which gives lender an interest in real property until the debt is paid.

The legal agreement, which creates a lien, between a lender and a borrower that secures payment of a loan.

The security the borrower gives the lender to be registered against the title to the property being purchased. (Note - the mortgage charges the title in favour of the lender so that the property cannot be sold without the loan to the lender being repaid and the mortgage discharged. Legal ownership of the property remains with the owner, but in the event of the owner failing to comply with the requirements of the loan, the lender can, after giving notice and following the procedures set down by law, take steps to sell the mortgaged property to recover the debt).

In general, a loan taken out against a property for its purchase.

property is used as collateral to guarantee payment of a debt. This is a legal agreement.

The legal document that secures a loan for real estate.

A mortgage is a claim or lien against a specific property that is given to the homebuyer through the services of a lender.

The conditional transference of property as security for a loan.

A secured loan used specifically to buy a property. Personal Loan A loan for personal use only, a loan that cannot be used for business.

A legal document which a borrower gibes to the lender on property as security for payment of a debt

A type of loan used to purchase property. In order for a borrower (mortgagor) to give a mortgage to a lender (mortgagee) they must obtain a legal charge on the property, giving security for a loan.

A written agreement to repay a loan. The agreement is secured by a mortgage, serves as proof of an indebtedness, and states the manner in which it shall be paid. The note states the actual amount of the debt that the mortgage secures and renders the mortgagor personally responsible for repayment.

A conveyance or transfer of an interest in property for the purpose of creating a security for a debt.

loan secured by properties.

An instrument used to encumber land to secure a debt.

The legal document that gives the lender a legal right to the property if the loan is in default.

This is a property pledge that is used as security in the repayment of a loan.

The use of property as security for a promise to pay a debt to a lender. Back to Glossary Index

the charge or assignment of property to secure the payment of a debt and where the property is redeemable upon payment.

A long-term debt instrument for the purchase of property by which the borrower uses the property itself for collateral.

A contract between a borrower (buyer) and a lender (usually a bank). The borrower puts the property up as collateral against the mortgage debt. There are many types of mortgages and terms-ask your realtor for details.

A contractual arrangement whereby property is provided as security for a loan. (see also Fixed interest investments, Mortgage trusts, Home equity conversion arrangements)

A legal instrument that conveys a security interest in real estate property to the mortgagee (i.e., a lender) as an assurance that a loan secured by the real estate mortgage will be repaid.

A written instrument used to pledge real estate as collateral for a loan. See Security Deed.

A formal document executed by an owner of property, pledging that property as security for the payment of a debt. In some states, a deed of trust is used rather than a mortgage.

A type of lien, in which a bank or a person lends the money to buy a property. The property itself is the collateral in a mortgage, so that the lender can take the property if the owner doesn't comply with the mortgage's terms.

A secured loan for which the collateral is real property (usually a home).

A two-party instrument in which the borrower-mortgagor retains title during loan term while the real estate acts as collateral for the loan. A mortgage is a contract, not a lien.

Security for a creditor traditionally crested by the transfer of property to a lender on terms that upon repayment of the debt he will transfer the property back to the borrower.

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A lien against property for which money is borrowed

The instrument securing a note to a piece of property. A note is simply a promise to pay. A mortgage secures that promise, using real estate as the collateral. When someone mortgages their property, they are conveying an interest in their property as security for payment of a debt. First Mortgage: A first mortgage is in superior position to all other mortgages, liens and judgments (except property taxes) Second Mortgage: A mortgage secured by property after the first mortgage. If the first mortgage is paid off and released, the second mortgage becomes the first mortgage.

A mortgage is an agreement you sign when you borrow money to buy real estate. In exchange for the loan, you give the lender, or mortgagee, a claim against the property, which serves as security for the mortgage. As you repay the loan, you build equity in the property, and when you make the final payment, the mortgage ends and the property is entirely yours. However, if you fail to meet the terms of the mortgage, such as not repaying principal and interest on schedule, the lender may foreclose, or take control of the property, and may even sell it to recover the amount due.

A loan to purchase a property, with the property used as security in case the payments are not continually met. Mortgages can also be known as real estate loan or home financing.

Notice of Pre-lien Owner financing Payee

A legal document, where a borrower pledges their property as security in order to obtain a loan.

A type of loan commonly used to buy property; the buyer gives the lender the right to claim the property if payments are not made according to agreement.

Money borrowed from a lender in order to purchase a house or other property.

Loan secured on the borroweres property to purchase homes,land or commercial premises.

A legal instrument or document that conveys title to real estate as collateral for the payment of a debt.

A legal conveyance of property to a creditor for security (from the Latin meaning death pledge).

the legal written document signed by the property's owner, binding him to repay the debt or give up the property to the lender so he may sell it to repay the debt.

A long-term loan to finance a property whereby the property is used to secure the loan (mortgage loan).

A loan to finance the purchase of a house, with that house given as security for the loan.

The legal process (also the written document) by which a buyer or owner of real property (the "mortgagor") conditionally transfers title to a lender (the "mortgagee") as security for a loan to finance the purchase of, or improvements to the property, the condition being that the transfer becomes void upon full payment or performance according to the stipulated terms.

a debt instrument executed by an owner of property, pledging that property as security for payment of the debt.

A legal contract that pledges a property as security for a loan.

A financial arrangement in which a person borrows money to purchase real property, which is then used to secure the debt.

A pledge of the ownership of land given to secure a debt.

A lien against real property given by a borrower to a lender as security for money borrowed.

A loan or lien on property that secures the promise to repay.

Security for a loan taken out for property deal

A "large" loan usually for a home or real property; or the charge against a property for securing funds or funding.

The lender of money or the receiver of the mortgage document.

A written document that creates a lien on a property to secure the repayment of a loan.

Document pledging real property as collateral for the repayment of a loan. The lending institution is known as the “mortgagee” and the person borrowing money for a home is called the “mortgagor.

A mortgage is defined as a loan that is secured on property. The property that you buy is the security against which your repayments are held, so if you don't repay the loan, the home is repossessed.

A legal document that pledges a property to the lender as collateral for repayment of a loan.

A legal document that the lender has a lien as security for payment of the loan for a property.

is a loan on the purchase of the property. Also called a charge.

A pledge of collateral as security. In some states, the term mortgage also describes the document signed to show that the lender is granted a lien on the home. It may also show the amount of money borrowed.

This instrument pledges the property as collateral for the Note. Some states use a Mortgage and some use a Deed of Trust. In either case, the use for the instrument is the same.

A pledge of real estate collateral to secure a debt. Also, the legal document describing and defining the pledge. The mortgage may also include the terms of repayment of the debt. (Also known as deed of trust)

A secured loan for property. A second mortgage has secondary rights in foreclosure to a first mortgage on the property.

A security interest in property given by a borrower to a lender, stipulating the terms of repayment of a loan for a specific piece of property.

A mortgage is a loan that uses a piece of real estate as a security. Once that loan is paid-off, the lender provides a discharge for that mortgage.

A legal document that states that a certain amount of money is being used to purchase a property. If the loan is not paid back according to the terms set forth in the document, the loan is forfeit, and the property may be seized in order to pay it back.

A contract in which a borrower's property is pledged as security for a loan which is to be repaid on an installment basis.

security claim by a lender against property until the debt is paid.

A conditioned pledge of property to a creditor as security for the payment of a debt.

A mortgage is a loan used to purchase residential property, usually with specified payment periods and interest rates. For AGF Trust residential mortgage rates visit www.agf.com .

A lien or claim against real property given as security for a loan. It is a two party agreement as apposed to the three-party agreement of a deed of trust.

A legal contract that is registered against the title to a property in order to guarantee that a loan will be repaid.

A mortgage is where a person borrows money and the lender takes security over the property so that they can sell the property to pay the debt if the loan is not repaid.• Consumer Credit• De Facto Property Settlement• Guarantees• Land - Dealings With• Time Limits in Civil Matters

The pledge of a property to the lender as security for payment of a debt.

To convey property as a security to a lender of money. The document giving evidence to this is the mortgage deed.

An instrument in writing, duly executed and delivered, that creates a lien upon real estate as security for the payment of a specified debt.

A mortgage is a legal instrument (contract) in which property serves as security for the repayment of a loan.

A conditional transfer or pledge of real estate as security for the payment of a debt. Also, the document creating a mortgage lien.

A legal instrument that conveys an interest in real estate property given as security for the payment of a debt.

A security over property given to the lender for the repayment of principal and the payment of interest on the loan. A mortgage over land is registered or noted on the Certificate of Title to that land. The party that has the benefit of the mortgage (usually the lender) is called the mortgagee. The party giving the mortgage by charging his or her property is called the mortgagor.

A loan used to purchase a home with the real estate used as collateral to secure the loan. The interest portion of mortgage payments is generally tax-deductible.

A conditional transfer of title to real property as security for payment of a debt.

A document which creates a security interest over a property to a creditor as security for a loan.

The instrument securing a mortgage loan which creates a first lien on the property.

A loan secured against real estate as opposed to personal property. States which are not Trust States utilize a mortgage as the legal instrument to secure the lien against the real estate which means that the owner holds title rather than a trustee.

Is a pledge of real property in order to obtain a loan: It is not the note itself. The loan instrument is a note or bond. However, these two terms are frequently used synonymously.

A legal document that provides security for repayment of a promissory note.

A mortgage is a promise in which you agree to put up your home as security for a loan. The mortgage is the instrument which secures the Promissory Note, in which you promise to repay the loan at a certain date. The mortgage document allows the lender to force a sale of your home (foreclosure) if, for example, you fail to make payments, to pay property taxes or insurance, or keep other promises. In some states the mortgage document is called a "deed of trust." Refer to your copy of The Complete Guide to Your Real Estate Closing for full details of these two documents.

A written agreement granting an interest in real property as security for a debt. A mortgage is usually foreclosed by a judicial proceeding.

A legal document evidencing the debt owed by a borrower to a lender. (see Mortgagee, Mortgagor)

A pledge of real property as security for the repayment of a debt; the document that creates and represents the lien upon the real property that secures the debt.

Claim that a lender receives on a property for the loan it makes to a home buyer.

A loan to help you buy a house, flat, or other property. Sometimes called a charge.

The conveyance of an interest in real property given as security for the payment of a loan.

A loan to finance the purchase of real estate, for which the borrower pledges the real property as security for the repayment of the loan. The borrower gives the lender a lien on the property as collateral for the loan.

An instrument in writing which, when recorded, creates a lien upon property pledged as security for the repayment of a debt or obligation.

a loan secured by property temporarily transferred from mortgagor to mortgagee

An instrument whereby an owner conditionally transfers title of property to another as security for payment of a debt. The owner retains possession and use of the land and, upon the payment of the debt, the mortgage becomes void.

A mortgage is a loan used for the purchase of a house or other property and the property provides security for the loan. An arrangement is usually made for regular payments over a period of time in order to pay off the loan. Usually, interest is charged to the borrower in exchange for the loan. Mortgages come in many forms and varieties, usually differentiated by the time period over which they are repaid, the way the borrower qualifies for the mortgage, and the way interest is charged on the loan. The two main types of mortgage are repayment and interest only.

A security instrument for the payment of a debt or obligation (eg, FHA, VA, Conventional, RECD, THDA)

A temporary, conditional pledge of property (such as a house) to a creditor as security to repay a debt.

An interest in property created as a security for a loan or payment of a debt and terminated on payment of the loan or debt. The borrower, who offers the security, is the mortgagor, the lender, who provides the money, is the mortgage. The mortgage is repaid by installments over a fixed period, either of capital and interest or of interest only, with other arrangements being made to repay the capital, for example by means of an endowment assurance policy. Business uses of the mortgage include using property to secure a loan to start a business. Virtually any property may be mortgaged (though land is the most common).

A legal document which expresses the terms and conditions applying to the lending of money secured over real estate.

The principal and interest type loan which is the most common form of housing loan. The repayments through the term of the loan include both interest and principal.

Though the term "mortgage" is commonly used to describe real estate loans, mortgages are really used in eastern and midwestern states. Real estate lenders in California use a trust deed, which is technically very different from a mortgage. Though a mortgage can legally be used in California, I have never seen one in over 25 years of real estate practice. Therefore, the typical California "mortgage company" or "mortgage broker" actually deals in trust deeds, although the term "mortgage" is more familiar to the general public.

Property that is put up as security to a creditor for a loan.

A lien placed by the lender on the borrower's property and removed when the note has been paid in full. If the borrower defaults on the note, the lender can sell the property to satisfy the debt.

A loan to buy a home where you put up the property as security against you paying back the loan.

When a person buys a house, he or she will likely have to borrow money from a lender. The home loan or mortgage includes both a promise by the borrower to repay the loan with interest (the note), as well as the grant of an interest in the property to secure repayment of the loan (the mortgage or deed of trust) in the event that the borrower defaults on the loan payments.

A legal document used to secure the performance of an obligation. In effect, the mortgage states that the lender can look to the property in the event the borrower defaults in payment of the note.

A legal agreement which pledges real property to a lender as security for repayment of a debt, usually the debt incurred to purchase the property in question. In some states, a different legal instrument called a deed of trust fulfills a similar function even though it is not legally the same.

This is a loan used to buy a property. The property is used as security against paying back the loan.

A loan to buy a property There are different types of mortgage, such as 'buy to let', where you borrow money to buy a property you will let out to tenants. Almost all mortgages are partly secured on the value of the property, and can be for varying lengths of time.

A legal document that pledges a property to a lender as security for payment of the loan it makes to the homebuyer.

An interest given on real property to guarantee the payment of a debt or execution of some action.

A voluntary lien filed against property to secure a debt, usually a loan. To foreclose, the lender must often institute a court action and the borrower may have the right to reclaim the property after foreclosure.

A document by which an owner or buyer creates a lien on real property in favor of the lender. The lender holds the lien as security for the money borrowed.

A loan that is secured by real property.

A type of secured loan

A legal document containing the terms and conditions applied to the funds (money) leant to a person (or legal entity) for the purchase of property (real estate).

A pledge of property that is put up as security for the repayment of a loan. The lender is the mortgagee and the property owner is the mortgagor Notice of Default (NOD)- This is required by State Law to initiate a non-judicial foreclosure proceeding involving a public sale of the real property securing the deed of trust, the trustee under the deed of trust records a Notice of Default and Election to Sell ("NOD") the real property collateral in the public records Personal Property- Property that is not Real Property, i.e. securities, furniture, cars, promissory notes, clothing, intangibles, etc.

A legally binding contract that represents the terms and conditions of payment setup between the lender and borrower.

A loan or lien on a property/house that has to be paid over a set period of time.

A legal document that pledges a property to the lender as security for payment of a debt

A loan made against the security of a property.

A transfer of an interest in land or other property by way of security, redeemable upon performing the condition of paying a given sum of money.

a form of debt where the borrower gives the lender a lien on the property.

A lien or claim against property given as security for money an extension of credit.

An instrument used to encumber land as security for a debt.

A long-term loan with interest paid on it. The property itself acts as security.

A written document executed by the owner of land by which the land is given as security for the payment of a debt or performance of an obligation (rarely used in California).

A document which makes the property security for the repayment of a debt. This payment consists of four or five sub-parts, which we often call "The PITI payment." Principle + Interest + Taxes + Insurance = Mortgage Payment. There may also be another aspect of the payment, the PMI or Private Mortgage Insurance, which is collected whenever the downpayment is less than 20% of the loan amount. This amount is added to your monthly mortgage payment.

A legal document that gives a lender rights to a property as security for repayment of a debt. The lender as mortgagee has the right to take the real estate if the mortgagor fails to repay the loan.

A legal document that pledges property to a lender as security for the repayment of the loan. The term also is used to refer to the loan itself.

A mortgage is security for a loan on the property that you own. It is your personal guarantee to repay the loan as well as a pledge of the property as security for the loan.

A loan used to buy a property to live in where the property itself is used as security to protect the lender from non-payment or defaults.

A lien against property, which is registered on title, that is granted to secure an obligation such as a debt.

A contract between a borrower and a lender where the borrower pledges a property as security to guarantee repayment of the mortgage debt.

A mortgage is a obligation to make a specified number of payments at a certain fixed or variable dollar amount towards the purchase of a home or piece of real estate.

A loan used to finance the purchase of real estate whereby the borrower (mortgagor) gives the lender (mortgagee) a lien on the property as collateral for the loan.

A  financial loan wherein the property is used as security for repayment. An Open Mortgage can be paid off before it matures. An open mortgage generally allows a full or partial payment of the principal at any time, without penalty. Closed Mortgage cannot be paid before it matures. It features fixed payment and duration schedules. If you terminate the mortgage at any time prior to the actual end if the term, you may be penalized.

The legal document pledging the property as a security for debt.

This is a legal document pledging the property for the performance of a repayment of a loan under certain terms and conditions.

A mortgage is a loan, provided by a bank or mortgage company, that helps you build a home. Like all loans, you pay it off by making payments over a period of time. Your payments go toward paying off the principal (the amount of money you borrowed) and the interest (the cost of borrowing the money).

Debt financing where the property is used as collateral.

A real estate loan in which the bank uses the property as collateral.

Legal document which is used to pledge property as security for repayment of the loan. In Texas this document is called a Deed of Trust. It is recorded in the courthouse and creates a lien on the property until the loan is repaid and a Release of Lien is recorded.

A legal document that is held by a lender as security for repayment of a loan to purchase real estate.

The legal document used by a borrower to pledge their property as security in order to obtain a loan. In some areas of the country, the mortgage is called a "deed of trust".

A long-term loan obtained by individuals to buy a home that legally transfers ownership from the debtor to the creditor until the debt is paid. For more information on LaSalle Bank products, click here.

A conditional conveyance of property contingent upon failure of specific performance such as the payment of a debt.

a type of debt in which the borrower gives the lender a lien against the property until the funds are paid back.

A temporary and conditional agreement that stipulates the use of real property as collateral to a creditor for the guaranteed repayment of a loan. The mortgage incurs a rate of interest that varies according to term and other loan features.

A loan that you take out in order to buy property. The collateral is the property itself.

A loan to purchase a home where the property is used as security in the event of non-payment of the mortgage.

A type of loan specifically used to finance the purchase of real estate. There are several types of mortgage loans available.

The legal document outlining your responsibilities as a borrower, including the amount of the loan you have taken and the details and schedule of your re-payment. It states that if you do not make payments on your loan in a timely fashion, you may lose your right to ownership of the home.

A mortgage is a lien on a residence to secure repayment of money borrowed to purchase the residence.

A conveyance of a property right to a lender or creditor as security for payment of a debt.

An IOU to repay a real-estate lender, who holds a lien on the property until the loan is repaid with interest.

Money borrowed from a lender in order to purchase a piece of property. Mortgages vary in terms of length as well interest rates.

A legal instrument in which property serves as security for the repayment of a loan. In some states, a deed of trust is used rather than a mortgage.

Most people understand a mortgage to be a home loan. The technical definition, however, is a bit more complex. A mortgage is actually a loan in which you, as the borrower, offer your property and land as security (see charge) until such time as the loan is repaid, say 10, 15 or 25 years down the line. The property and land you offer as security is actually what you're buying. Did you know that the word comes from the French meaning 'dead pledge'

A conditional contract in which a property is given as security for the repayment of a loan.

A loan to buy a home where you use the property as security against you repaying the loan.

A loan which uses a property (or a piece of land) as security to the lender.

A lien on real estate given by the buyer as security for money borrowed from a lender.

A loan from the lender to the buyer against the property.

Gives permission to borrow additional money in the future without refinancing the loan.

This is the security the lender takes over the property.

A long-term debt secured by real property.

A loan secured by a lien on your home. In some states the term mortgage is also used to describe the document you sign to show that you have granted the lender a lien on your home; other states use a deed of trust document instead of a mortgage. It may also be used to indicate the amount of money you borrow, with interest, to purchase your house. The amount of your mortgage is usually the purchase price of the home minus your down payment.

A legal document between the lender and borrower stipulating the terms of repayment of a loan for a specific property. Basically, it is the amount of money owed on the property. This document, signed by the borrower, gives the lender the right to the property if the borrower fails to live up to the loan arrangement. There can be several mortgages on a property and they are numbered in the order they are placed on the property.

A loan from a financial institution used to buy a house.

A temporary and conditional pledge of property to a creditor as security for the repayment of a debt. The borrower (mortgagor) retains possession and use of the property.

A document in which the owner pledges his/her/its title to real property to a creditor as security for a loan.

A written instrument that creates a lien upon real estate as collateral for the payment of a specified debt. The borrower retains possession and use of the property.

A transfer of real property (land) or personal property (goods) as security for the repayment of money borrowed. The creditor to whom the mortgage is made is called the mortgagee; the debtor who makes it is the mortgagor.

A written instrument that creates a lien by pledging real property as security for a debt.

The lien which usually has priority over all other liens on a property. The mortgage is a pledge by the buyer or borrower of the real estate as security for the money being loaned by the lender or Mortgage Company. The money must be paid back at the terms agreed to in the mortgage contract.

A mortgage with a provision that permits borrowing additional money in the future without refinancing the loan or paying additional financing charges. Open- end provisions often limit such borrowing to no more than would raise the balance to the original loan figure.

Security for a loan to purchase property. It is the purchaser s personal guarantee to repay the loan and a pledge of the property as security for the loan.

A mortgage is a legal document where the borrower pledges property to the lender to ensure payment of a loan.

A mortgage is actually a document, which is registered in Land Titles Office and provides evidence that you have given your home as collateral to a lender to secure a loan. In practice, the loan itself is usually referred to as a mortgage.

The security over property given to the lender for the repayment of the loan. The lender (Mortgagee) has the right to take the property if the borrower (Mortgagor) fails to repay the loan.

A legal agreement under which you take out a loan and use the property being purchased as security for that loan.

A legal agreement that uses property as collateral to secure payment of a debt. The legal agreement means that when a mortgage is on a house, the lender can take possession of the house if the borrower stops making payments.

Money borrowed against a property, that uses the property as collateral.

A legal document used to secure the performance of an obligation. The term mortgage, which is derived from the French words mort meaning "dead" and gage meaning "pledge," is appropriate in that the pledge is extinguished only after the debt is paid. In the usual real estate transaction, the buyer seeks to borrow money to pay the seller the difference between the down payment and the purchase price. When the lender (mortgagee) lends the money, the buyer/borrower (mortgagor) is required to sign a promissory note for the amount borrowed and to execute a mortgage to secure the debt. The purpose of the mortgage note is to create a personal liability for payment on the part of the mortgagor; the purpose of the mortgage is to create a lien on the mortgaged property as security for the debt.

A written instrument creating an interest in real estate and that provides security for the performance of a duty or the payment of a debt. The borrower (i.e., mortgagor) retains possession and use of the property.

A lien against real property given by the borrower to the lender as security for money borrowed. Mortgages generally run from 10 to 30 years, during which the loan is to be paid off according to the terms of the note.

A legal document that pledges a property to a lender as collateral for a debt. (Some states use Deeds of Trust rather than mortgages; they are effectively the same thing.)

Legal document showing a lien upon real property in exchange for money.

is a document signed by a borrower when a home loan is made that gives the lender a right to take possession of the property if the borrower fails to pay off on the loan.

A document that gives a lender a lien on real estate property used as collateral for payment of a debt. Usually borrowers refer to both the note and the lien collectively as the mortgage.

A loan which is secured against property (i.e. registered on title as a claim or encumbrance on the property). Often used to purchase the property itself.

A valid enforceable deed of trust or other instrument pledging real property as security for payment of a note.

The financial institution or person that lends the money.

An interest in land created by a written instrument providing security for a debt.

a document placing conditions on the sale of property; usually recorded at the county level.

A loan for a house. Also referred to as a lien or claim against real property.

A loan designed to facilitate the purchase of a home, in which the home itself serves as security for the loan. If the borrower doesn't make the required payments, the lender may through a legal process known as foreclosure, sell the home in order to recover the amount owed on the mortgage. "Mortgage" can also refer to the legal document detailing the borrower's responsibilities, including the payment schedule and terms.

A form of security assigned to the mortgage for a loan, usually taken over real estate (such as your home).

A document that details the terms of a real estate loan agreement and serves as the lender´s security for the debt. Parties to the agreement are the mortgagor (Borrower) and mortgagee (lender).

A contract providing security for repayment of a loan, registered against property with stated rights and remedies in the event of default. MORTGAGEE The creditor or lender in a mortgage agreement. MORTGAGOR A person who borrows money for a home.

A conditional conveyance of property as collateral for a debt; to offer a property as a security for a loan. With a mortgage loan, the borrower will still own the property; the mortgage merely gives the lender the right to foreclose and obtain ownership if the borrower defaults on the loan. In some states, the term “deed of trust” is used to refer to the mortgage.

Instrument that creates a voluntary lien on real property to secure repayment of a debt.

One type of document used to make property the security for the payment of a loan.

A mortgage is a loan used to purchase or refinance a home. The property that is being purchased is used as security for the loan.

Has a specific meaning in law but has come to mean a loan with property as security.

The conveyance of a legal or equitable interest in freehold or leasehold property as security for a loan and with provision for redemption on repayment of the loan. The lender (mortgagee) has powers of recovery in the event of default by the borrower (mortgagor). A mortgage is a form of land charge and can be either legal or equitable.

A lien on the property that secures the legal document outlining loan terms and obligations.

(1) A pledge of real estate to secure a debt through a written instrument given by a borrower (mortgagor) to the lender (mortgagee). (2) A legal instrument that grants a lien on real property to secure the performance of an obligation, usually the payment of debt.

A transfer of an interest or land or other property by way of security, upon the express or implied condition that the asset shall be re-conveyed to the debtor when the sum secured has been paid.

A loan usually taken out to buy property e.g. a house. If you do not keep up the mortgage repayments the mortgage company can repossess your house. This is an example of a secured loan. The loan is secure for the mortgage company because they can not lose out. They get the value of your house if you default on the loan.

A mortgage evidences the loan used to purchase a home and the security for the repayment of the loan. The property purchased is pledged by the borrower as a security for repayment of the loan.

Another term for a property loan made from a bank. The collateral used is normally the property being purchased. The loan is secured on that property and is to be paid over an agreed time frame.

An instrument for lending money on real estate. The property is pledged as security for the loan, and the lender has the right to take over the property if the borrower defaults on the terms of the loan. ( Mortgage derives from two French words meaning dead pledge, because when the loan has been repaid, the mortgage is considered void or dead.

A form of security for a loan, in which a specific item of property is pledged by the borrower (mortgagor) to the lender (mortgagee).

A loan for the purpose of buying a home. The property itself is security for the loan (hence lenders’ insistence on valuations, buildings insurance etc), so if you don’t pay the loan back as agreed, the mortgage lender can repossess it and sell it to repay the loan.

A security instrument given by a borrower to secure performance of payment under a note. The document is recorded in county land records, creating a lien (encumbrance) on the property. Also known as a "deed of trust" in some state. The borrower is also called a "mortgagor."

Loan secured by property collateral that the borrower is obliged to pay back over a pre-determined period of time.

A guarantee of real estate from a borrower as security for the payment of a loan to a lender.

A loan used to purchase a home. The borrower pledges the property as security for the loan.

A mortgage is a long-term loan taken out in order to buy a property with repayment secured on that property. So if you don't keep to the repayment terms, the lender can repossess the property, sell it and retain the money they are owed. Any balance is then paid to you. If the property is sold for less than you owe your lender, you still remain liable to repay the shortfall.

In order to purchase a property, an individual often will enter into an agreement with a lending institution to provide a loan to pay for a large percentage of the purchase price. A mortgage is a very common vehicle used in the purchase of a home and many persons use this type of financing when purchasing a property. Components of a mortgage include the interest rate due on the loan (this can be either a fixed or floating rate - usually 5, 10, 15 or 30 year), and the amount that is being financed.

A property lien and financing instrument that secures real property as security for a loan.

The legal document that gives the mortgage lender a security interest in the property.

A note or other evidence of real property being pledged as the security for a debt - also referred to as a Deed of Trust, Trust Deed, or Security Instrument.

An instrument recognized by law m which property is hypothecated as security for the payment of a debt or obligation, to be void upon such payment, (the procedure for foreclosure in the event of default is established by statute.)

A legal document that pledges a property to the lender as security for payment of the loan for that property.

a pledge of specific property as security for the payment of a debt. The mortgagor is the person who pledges the property. The mortgagee accepts the pledge.

The document recording that a property is security for the money borrowed to purchase it.

The written instrument used to pledge a title to real estate as security for repayment of a Promissory Note.

A contract under which a borrower gives a lender a lien on real estate (typically a home) as collateral for a loan of money.

A pledge of real property for the security of a debt where a debtor maintains a right to the property.

A lien or claim against real property given by the buyer to the lender as security for money borrowed.

A lien against real property given to a lender as security for the money borrowed. MIP (Mortgage Insurance Premium) - The monthly mortgage insurance required on FHA loans.

Insurance (MIP or PMI) - Insurance purchased by the buyer that covers the lender against losses incurred as a result of a default on a home loan. This is generally required on all loans that have a loan-to-value higher than 80%. Also, FHA loans and some first-time buyer programs still require mortgage insurance regardless of the LTV. When you have accumulated 20% of your home’s value as equity, you can ask your lender to waive the PMI.

A mortgage is a loan taken out in order to buy a home. The property that you buy is the security against which your repayments are held, so if you don't repay the loan, the home is repossessed.

A written agreement that gives the lender an interest in the property as security for a loan.

A financial arrangement wherein an individual borrows money to purchase real property and secures the loan with the property as collateral.

Contract or deed pledging repayment to a creditor for a home loan.

A written document which shows evidence of a lien on a property by a lender as security that the loan will be repaid.

A legal document which is recorded with the Register of Deeds as a lien against a property. The mortgage is the lender's security for extending the borrower a loan for the purchase of the property.

A mortgage is a security for a loan on the property you own. It is repaid in regular mortgage payments, which are usually blended payments. This means that the payment includes the principal (amount borrowed) plus the interest (the charge for borrowing money). The payment may also include a portion of the property taxes.

A legal document between the lender and borrower providing security for and stipulating the terms of repayment of a loan for a specific property.

An agreement between a borrower and a lender, with the borrower providing security (i.e. property) for a loan from the lender. If the borrower can not honour the mortgage agreement (i.e. can't meet the loan repayments), the lender may sell the security property to recover their costs.

A loan in which the borrower puts up the title to real estate as security (collateral) for a loan. If the borrower doesn't pay back the debt on time, the lender can foreclose on the real estate and have it sold to pay off the loan.

A mortgage is a promise in which you agree to put up your home as security for a loan. The mortgage is the instrument which secures the Promissory Note, in which you promise to repay the loan at a certain date. The mortgage document allows the lender to force a sale of your home (foreclosure) if, for example, you fail to make payments, to pay property taxes or insurance, or keep other promises. Mortgage Banker A lender, other than a bank, credit union, or savings and loan, that specializes in making residential mortgage loans.

A legal instrument in which a lien on real property is granted as security for the repayment of a loan. OME STATES, A DEED OF TRUST IS USED RATHER THAN A MORTGAGE.

An instrument which sets up the conditions of payment for a piece of property already transferred to the buyer.

is a legal document pledging certain property or properties as collateral for repayment of a loan.

A legal instrument by which property is pledged as security for a debt. Mortgages are used in some states and a deed of trust in others.

A loan secured against a property. In the event of non-payment, there is usually a right to sell the property

A legal agreement by which the sum of money is lent on the security property, land etc. If the borrower fails to observe the terms of the mortgage, the lender retains the right to take possession of the property.

A written instrument which pledges real estate to secure the payment of a debt or obligation.

A legal instrument assigning property as security for a loan.

( more) - a loan to purchase a home, where the property is used to guarantee repayment of the loan.

A LOAN MADE BY US TO YOU WHICH IS SECURED ON YOUR HOUSE.

A formal document executed by an owner of property, pledging that property as security for payment of a debt or performance of some other obligation. Also, the security instrument itself.

a mortgage is a security given by one person to guarantee to another person who lends them money that the money will be repaid. The most common form of mortgage is the one taken out by a home owner and granted to the lender that enables them to purchase a property, in which case the mortgage will be over the property purchased. The mortgage will normally be created by a mortgage deed which then becomes recorded against the title to the land subject to it. The land can then only be sold if the mortgage is first paid off or, as usually happens, an undertaking is given by a solicitor that the mortgage will be paid off from the proceeds of the sale.

An official document which states that if the borrower were to cease making payments on the home loan, the lender would have the legal right to take ownership over the property.

The lien created as security on real estate to insure payment of debt.

The conveyance of an estate or interest in real property as security for a debt with a right of redemption. MORTGAGE SERVICING ? Controlling the necessary duties of a mortgage lender, such as collecting payments, releasing the lien upon payment in full, foreclosing if in default, and making sure the taxes are paid, insurance is in force, etc. Servicing may be done by the lender or a company acting for the lender, generally for a servicing fee.

A lien on a property while the buyer repays a lender.

A loan used to buy your house, where your house is used as security until you've paid off the loan (usually after a fixed period). There are three main types of mortgage: A repayment mortgage - you pay off the loan by instalments of capital and interest so that after the agreed period you have paid off all the loan An interest only mortgage - you pay only interest on your mortgage and make other arrangements to repay the capital, like an endowment policy. A flexible mortgage allows you to make overpayments and take payment holidays.

A mortgage is a home owner loan to purchase a property. The security of this loan is the property you are purchasing.

A loan that is secured by real estate. Read more...

An agreement pledging a property to a lender as security for the payment of an obligation.

A two Party security document pledging land as security for the payment of a debt or performance of an obligation.

A pledge of real property as security for the payment of a debt. With a mortgage, the Borrower retains possession and use of the property. A mortgage is typically signed simultaneously with a note.

A temporary, conditional pledge of property to a creditor as security for performance of an obligation or repayment of a debt.

A document or deed of promise to repay a loan, using property as security.

A type of debt instrument that one would incur in purchasing a house. The lender such as a bank would lend money to the borrower to purchase a house that he/she could otherwise not afford in one lump sum. It is the lendee's responsibility to pay off the loan over a set time frame. There is usually a finance rate, the cost to borrow the money, built into the mortgage payments. The terms of the mortgage are agreed upon before the contract is entered into.

a legal document making a home available to a lender to repay a debt.

A legal document specifying a certain amount of money to purchase a home at a certain interest rate, and using the property as collateral.

A conveyance of or lien against property until it is paid or until other stipulated terms are met.

A document which legally pledges a property or properties as collateral for a loan.

The loan made by a bank or building society to enable the purchase of a property - in return the property owner mortgages the property to the lender and it is used by them as security for the loan. If the borrower defaults on repayments the lender can force the sale of the property in order to repay the loan.

Document creating a lien on a property as security for the payment of a debt.

Loan secured by land

A formal document executed by an owner of property pledging that the property is security for payment of a loan. This document creates a lien on the property.

is legal document pledges a real property to a lender or a creditor to be used as a security for repayment. We usually refer to a home loan as a Mortgage.

A pledge of real estate as security for the payment of a debt. Simply put, a mortgage is a recorded document that tells the lender that the borrower pledged their real estate as collateral for a loan.

the written document which pledge's the borrower's property as security for the loan. The lender retains the legal claim on the property until principal and interest are paid in full.

A conditional conveyance of property as security for the repayment of a loan.

A lender's interest in land, secured over the land of the borrower, including a charge on property for the purpose of securing money or money's worth: (NSW) Conveyancing Act 1919 s.7. A personal contract for a debt secured by an estate: given over personal property.

A loan placed on real estate.

An instrument giving legal title to secure the repayment of a loan made by the mortgagee (lender). In legal contemplation there are two types: (1) title theory - operates as a transfer of the legal title of the property to the mortgagee, and (2) lien theory - creates a lien upon the property in favor of the mortgagee.

(1) To hypothecate as security, real property for the payment of a debt. The borrower (mortgagor) retains possession and use of the property. (2) The instrument by which real estate is hypothecated as security for the repayment of a loan.

A contract providing security for the repayment of a loan, registered against the property, with stated rights and remedies in the event of default. Lenders consider both the property (security) and the financial worth of the borrower (covenant) in deciding on a mortgage loan.

The conditional transfer of title to real estate as security for a loan.

A loan which is secured on your property.

A written pledge of property that is used as security for the repayment of a loan. A claim against real property given by the buyer to the lender as security for money borrowed.

The owner of real estate who pledges his property as security for the repayment of a debt, also known as the borrower.

A legal contract you sign to promise that you'll pay back the money you borrowed to buy your new home - plus interest. The mortgage specifies the loan term (the number of years you'll take to repay), interest rate and other costs like taxes and insurance. Your home is the collateral for your loan and the mortgage document gives the lender a legal claim against your house if you default on the loan's terms. This means that if you don't pay your mortgage the lender can take back the property and sell it to cover the debt. There are many types of mortgages with different terms to suit your situation. During your pre-qualification interview with your lender you'll have a chance to ask questions and explore these options. Common types of mortgages include: - Fixed: The interest rate does not change during the entire term of t loan; typically come in 15/20/30 year terms. - Adjustable-rate (ARM) - The interest rate that varies; it may increase or decrease based on market interest rates.

A loan to buy a property. The property acts as security for the loan and so can be repossessed and sold if the mortgage repayments are not made.

A security interest in real property given by a borrower in exchange for a loan from the lender to enable the borrower to purchase real estate, for example. The lender will hold a security interest (mortgage) in the property and the borrower will make regular payments, including interest, to reduce the loan amount until paid in full.

An interest given on a piece of land by a mortgagor, in writing, to guarantee to the mortgagee the payment of a debt or the execution of some action. It automatically becomes void when the debt is paid or the action is executed. In some jurisdictions, it entails a conveyance of the land until the debt is paid in full. Motion A request by a litigant to a judge for a decision on an issue relating to the case.

A loan to help you buy your house. The loan is secured on the property to prevent you selling the property without paying it off at the same time.

A formal legal document executed by the owner of a property, pledging the property as security for payment of a debt.

A lien that is attached to a particular piece of property. A purchase money mortgage is a mortgage that is attached to the property that is being purchased.

A conveyance of property to a creditor, as security for payment of a debt. Such security is redeemable or recoverable on the payment or discharge of the debt at a specified date. More recently referred to as a Charge on Title. An encumbrance registered on the title of the lands.

A loan you take out to buy your home.

a lien against real estate that secures a loan.  Sometimes the loan itself is referred to as a "mortgage" and sometimes the document creating the lien is also referred to as a "mortgage."  When the loan is repaid, the mortgage is "satisfied" and is then no longer a lien against the real estate.

The legal document that is recorded in a local County Recorder's office to affirm that money was borrowed to purchase or refinance a particular home. The Mortgage includes information to properly identify the property that is used as collateral to obtain the loan and how much is owed. However, the Mortgage does not contain the details of your arrangement to pay the lender back. That information is contained in the Note (or "Promissory Note"). Learn more about Mortgage Basics.

A 'mortgage' is a loan secured against a property which you can own. 'Secured' means that if you do not keep up the payments, the lender can sell your home to get its money back.

A form of security on borrowing commonly associated with home borrowing.

Financing instrument used to purchase property, comprised of the mortgage document and mortgage note.

A lien on real estate given by the buyer to secure repayment of money borrowed to purchase the real estate.

A mortgage is a contract between the mortgagor (being the person who owns the real property) and the mortgagee (being the person or lender to whom the property is mortgaged) which secures the repayment of a loan.

A document evidencing a debt owed by the borrower (mortgagor) to the lender (mortgagee). Registration of the mortgage in the Land Title Office transfers the mortgagor's interest in land to the mortgagee as security for the repayment of the debt.

is a formal document which proves the legal claim or lien on property that the lender holds as security for the money borrowed. There are two people involved in a mortgage, the borrower and the lender. The borrower pledges the property as security for the repayment of the money borrowed, but does not transfer title to the lender. However, if the debt is not paid as agreed, the lender, through a court proceeding, can compel the sale of the property to pay off the debt.

a legal agreement between the lender and borrower in which the lender provides a loan to purchase property; the lender has ownership on the property until the loan is repaid

a lien on real estate given by the buyer to secure the repayment of borrowed money, of purchase of the real estate.

A charge over property securing a long term loan

A legal document that pledges property to a creditor for the repayment of the loan, and is the term used to describe the loan itself. Some states use the term First Trust Deeds to refer to mortgage loans.

A loan used for the purchase of a new home. Mortgages are available from banks, savings & loans, credit unions, mortgage companies, etc.

An instrument, recognized by law, by which property becomes security to assure the payment of a debt or obligation; procedure for foreclosure in event of default is established by statute.

A contract between a borrower and a lender, where the borrower pledges a property to a creditor as security for the payment of a debt. "Charge" is another word for mortgage.

Loan for which property is the security (usually for house/ property purchase for a private individual or now more and more common - Buy to Let property).

An agreement between the bank and the consumer whereby the consumer's house/property is used as a security for the loan.

A legal charge on a property, giving security for a loan. The borrower (mortgagor) gives the mortgage to the lender (mortgagee).

An instrument by which property is hypothecated to secure the payment of a debt or obligation.

long-term loan to purchase property.

An encumbrance upon real or personal property to secure repayment of a loan or other advance of funds; mortgages of personal property are often referred to as “chattel” mortgages.

Debt instrument by which the borrower (mortgagor) gives the lender (mortgagee) a lien on property as security for the repayment of a loan. The borrower has use of the property, and the lien is removed when the obligation is fully paid. A mortgage normally involves real estate. For personal property, such as machines, equipment, or tools, the lien is called a "chattel mortgage."

A legal document that pledges real estate as security for repayment of a loan or other obligation.

Document, including security instrument, note, title and necessary documents, executed by a property owner pledging the property as security for payment of debt.

The act of trading the home to the lending institution to secure a home loan. Once the loan is completely paid back, the lender is to release the home back to the person taking out the loan. Usually this is accomplished with the lender returning the deed to the house.

A document that places a lien on property. The lender holds the mortgage as security for the promissory note.

A legal document that uses property as collateral to secure payment of a debt. Back

A document in which a lien is granted on real property as security for the repayment of a loan. A mortgage is the legal instrument used in many states (instead of a deed of trust).

A document which states the terms of a loan.

Deed conveying property to a creditor as security. The borrower is the mortgagor and the lender the mortgagee.

A conveyance of an interest in real property given as security for the payment of an obligation.

legal document that offers real property as collateral for a loan allowing foreclosure in case of default.

a loan (usually for buying a home) in which the lender can take possession of the property if the loan is not repaid on time

A written instrument that creates a lien upon real estate as security for the payment of a specified debt. May also take the form of a Deed of Trust.

A pledge of property, usually real property, as security for a debt. By extension, the document evidencing the pledge. In many states this document is a deed of trust. The document may contain the terms of repayment of the debt. By further extension, " mortgage" may be used to describe both the mortgage proper and the separate promissory note evidencing the debt and providing terms of the debt's repayment.

The instrument by which real property is pledged as security for repayment of a loan.

loan used to purchase a property. The borrowing is secured on the property which means if you do not repay the loan as agreed the lender may repossess your home.

A legal document which gives a lender an interest over a property to secure the payment of money, or the performance of an obligation owed, to a lender.

A legal document providing a specific property as security for a loan under certain terms and conditions.

A written contract giving the lender certain rights over specific property for example, the house being bought by the borrower, as security for the loan

A conveyance of property to a creditor as security for the payment of a debt with the right of redemption at a specified date.

A mortgage guarantees the loan granted for the purchase of a home. It personally obliges the borrower to repay the loan and binds the property as a guarantee.

A legal document by which real property is pledged as security for the repayment of a loan.

A loan in which the borrower (the mortgagor) offers a property and land as security to the lender (the mortgagee) until the loan is repaid. Repayments of the loan are usually made on a monthly basis over a long period of time, typically 25 years. In the UK, the most common forms of mortgage are the repayment mortgage and the interest only mortgage.

A legal instrument that creates a lien upon real estate securing the payment of a specific debt.

A mortgage is a written document that pledges real property as collateral or security for repayment of a debt (loan).

The security investment which insures payment of the note. In case of default, it can be foreclosed in court.

A voluntary lien filed against property as security for a debt.

A mortgage is a type of loan used to purchase a home, usually with the land.

A legal claim received by the lender on a property as security for the loan made to a buyer.

A loan to buy a home, where the property is the security against you paying back the loan. Mortgages offer by far the best long-term interest rates of any loan because they are seen as very low risk for the lender.

Legal document that pledges title to property as security for the repayment of a loan.

A loan on real property typically a home or land in which the title to the real estate is used as collateral for the loan.

A claim placed against real property in order to secure a debt. 1st Mortgage - often known as the "primary" has priority over the claims of other lenders for the same property.

A legal document under which money is lent with property pledged as security.

the debt of a firm collateralized by real estate.

A written instrument that pledges a property to the lender as security for repayment of a debt.

a mortgage is a loan taken out in order to purchase a property. The loan is secured against the property that it funds.

If a buyer is borrowing money from a bank or building society to assist in the purchase, that lender will require that the loan is secured against the property by way of a mortgage. The mortgage deed will set out the terms of payment and other mortgage conditions often include obligations upon the owner to keep the property insured and in good condition and not to carry out structural alterations without the consent of the mortgage lender.

A form of security for a loan usually taken over real estate. The Lender, the mortgagee has the right to take (repossess) the real estate if the mortgagor fails to repay the loan.

a loan to help you buy property on condition that the company giving you the loan has certain rights, including the right to sell the property if you don't pay back the loan.

A written legal document that is signed by the borrower which pledges real property to the lender as security for repayment of a loan.

The mortgage, mortgage deed, deed of trust, or other instrument creating a first lien on or first priority ownership interest in an estate in fee simple in real property securing a Mortgage Note including any assumption agreements or modifications relating thereto; except that with respect to real property located in jurisdictions in which the use of leasehold estates for residential properties is a widely accepted practice, the mortgage, mortgage deed, deed of trust or other instrument securing the Mortgage Note may secure and create a first lien upon a leasehold estate of the Mortgagor, if the term of the leasehold estate expires at least ten (10) years after the expiration of the term of the Mortgage.

a transfer or conveyance of property upon any condition that becomes void upon payment according to the stipulated terms.

The written transfer of title to some specified real estate property, but not of its possession, to secure the payment of a debt or the performance of some obligation. See also Lien. Français: Hypothèque Español: Hipoteca

A document that pledges your property as security for a loan's repayment. If you can't repay the loan on your home, a mortgage gives the lender the right to foreclose on the property and sell it to get back their money. A deed of trust serves the same purpose as a mortgage, however some states traditionally use one or the other - in some cases both, depending on the custom in each county. With a mortgage, the lender must go to court to foreclose on a property.

this is a tool / instrument which allows security to be taken over an asset / property given to a lender when they lend you money.

A loan secured against some specified real estate property which obliges the borrower to make a predetermined series of payments.

A claim given by a borrower (mortgagor) to a lender (mortgagee) against the borrower's property in return for a loan.

a contract between a lender (mortgagee) and a borrower (mortgagor) that represents the security given to the lender by the borrower in return for a loan. The definition varies slightly from province to province (pages 99-110).

loan to buy real estate .

A legal document pledging property as security for the payment of a loan.

In order to purchase a property, an individual often will enter into an agreement with a lending institution to provide him/her with a loan to cover a large percentage of the purchase price. A mortgage is a very common vehicle used in the purchase of a home and most Americans use this type of financing throughout their lives when they purchase property. There are several components to a mortgage, including the interest rate due on the loan (this can be either a fixed or floating rate), the term of the mortgage in number of years (usually 15 or 30) and the amount that is being financed. Using simple math, one can figure out his/her monthly payments for the term of the mortgage. If the rate is fixed, the amount for each payment period will be identical and will be comprised of two components, principal and interest.

A lien on title held by an entity for a certain sum of money, usually associated with the loaning of money to the owner of the property. It is interesting to note that in Connecticut, a property "owner" actually grants title to the property to the lending institution by a conditional mortgage deed, the biggest condition of course, is the repayment of the money. Connecticut is a "title" state, rather that in other states which use "deeds of trust" whereby the "owner" holds title to the property which is mortgaged.

A mortgage is a device used to create a lien on real estate by contract. The mortgage is an instrument that the borrower (called the mortgagor) uses to pledge real property to the lender (called the mortgagee) as security for a debt, also called hypothecation.

A loan for which a property is the security See our Mortgage Guide for the types of mortgages available

The pledging of property to a creditor as security for payment of debt. Also, a document that places a lien on property. The lender holds the lien as security for the money borrowed.

A mortgage is evidence of the security for a loan. It is the document, signed by the borrower, which gives the lender the right to the property if the borrower fails to live up to the loan arrangement.

A loan to buy a property where the property is used as security against you paying back the loan.

Conveyance of property by debtor to creditor as security for debt.

A deposit or conditional transfer to secure the performance of some act: the person who makes the transfer is called the 'mortgagor', the other party, the 'mortgagee'; sometimes an intermediary called a 'trustee' is appointed

a loan for land and home that - along with interest - is paid off in installments. The property is used as collateral and the borrower agrees to insure and maintain the property.

Deed pledging freehold or leasehold property as security for a loan (also called legal charge). Gives the lender certain rights, particularly to sell the property if repayments are not maintained.

A loan taken out for the purpose of buying a property, secured against the value of the property itself.

A conveyance of an interest in real property given as security for the payment of a debt.

Is the entire legal document under which we lend you money.

Strictly speaking, the rights over a property given by one person (the Mortgagor or Borrower) to another (the Mortgagee or Lender). More commonly it is used to mean the loan itself.

A mortgage is a contract stipulating a specific real property, typically a residence or building, as collateral for a loan. The mortgage incurs a rate of interest that varies according to term and other features.

In casual use, a sum of money borrowed to purchase a home at a certain interest rate using the property as collateral. In formal use, a mortgage is the legal document that pledges property as collateral for a loan.

A loan involving a piece of real estate property in which said property is used as security against the debt.

A lien on real estate to protect a lender. The loan made with such security is referred to as a mortgage loan. To Top

A loan of money advanced to purchase property. The transfer of the property is withheld as security for payment

A written agreement that pledges property as security for payment of a debt

The conveyance of property to a creditor as security for payment of a debt; i.e., the lender or creditor.

A loan secured by real estate, where the borrower allows the lender a lien on the property as security until the loan is repaid

Transfer of the right to real estate by the borrower to the lender in security for a loan.

The amount borrowed is not repaid until the end of the term of the loan. Repayments made are only payments of interest.

A document or note that signifies property is placed as security for guarantee of payment.

To dream that you give a mortgage on your property, denotes that you are threatened with financial upheavals, which will throw you into embarrassing positions. To take, or hold one, against others, is ominous of adequate wealth to liquidate your obligations. To find yourself reading or examining mortgages, denotes great possibilities before you of love or gain. To lose a mortgage, if it cannot be found again, implies loss and worry.

Document which specifies a specific amount of money, which is to be used for purchase of a home, using the property as collateral, whereupon a lien is placed on the property as security for repayment of the debt.

loan secured by the collateral of some specified real estate property which obliges the borrower to make a predetermined series of payments.

A lien against real estate that secures payment of a debt.

a lien on the property that secures the Promise to repay a loan.

person or firm to whom property is conveyed a security for a loan (lender)

The party lending the money and receiving the mortgage. Some states treat the mortgagee as the "legal" owner, entitled to rents from the property. Other states treat the mortgage as a secured creditor, the mortgagor being the owner. The latter is the more modern and accepted view.

A legal charge on a property pledging it as security for a loan.

The transfer of right of ownership of a property from a debtor to a creditor as security for a debt, with the proviso that once the debt is paid ownership is transferred back.

A document that gives a lender a legal, vested interest in a property until the debt is paid.

A long term loan used to buy a house or other (residential) property.

An interest given on a piece of land, in writing, to guarantee the payment of a debt or the execution of some action. It automatically becomes void when the debt is paid or the action is executed. In some jurisdictions, it entails a conveyance of the land until the debt is paid in full. The person lending the money and receiving the mortgage is called the mortgagee; the person who concedes a mortgage as security upon their property is called a mortgagor.

A contract specifying that certain property is pledged as security for a loan. The money is to be repaid in installments which usually combine principal and interest payments.

lien or claim against real property given by the buyer to a lender as security for repayment of the loan.

Casually, it's a home loan. Technically, it's a document that dedicates a property to a lender collateral for payment on a debt.

Debt instrument by which the borrower (mortgagor) gives the lender (mortgage) a lien a property as security for the repayment of a loan. The borrower has use of the property, and the lien is removed when the obligation is fully paid. A mortgage normally involves real estate. See also Debt.

A charge given over an asset such as real estate, an aircraft or a ship to secure a loan, often used to finance the purchase of that particular asset.

A LOAN that is SECURED on a property. The lender is entitled to take possession of the property and sell it if the terms of the agreement are broken.

A legal document secured against property to the lender for payment of a debt. It is a two party agreement as opposed to the three party agreement of a deed of trust. back

A loan given to a person buying a property by a lender who in return uses that property as security for the loan.

A conveyance of property to a creditor as security for payment of a debt with a right of redemption upon payment of the debt.

A written statement that forms a lien on property as security for the payment of certain debts.

A legal instrument pledging a described property for repayment of a loan under certain terms.

A legal document where the owner uses the new property as security to guarantee repayment of the loan. The "mortgagee" is also known as the lender, and "mortgagor" as the borrower.

A loan of funds for purchasing a piece of property which uses that property as security for the loan. The lender has a lien on the property and will receive the property if the borrower fails to repay the loan.

a loan where you pledge your property to the lender as security

A legal document giving a lender a lien on real estate to secure repayment of a loan. Mortgage loans generally run from 10 to 30 years, after which the loan is required to be paid off. Also called deed of trust and/or security deed.

A temporary or conditional pledge of property to a lender as security for repayment of a loan. There are several types of mortgages available, including fixed rate, in which mortgage payments are constant for the life of the loan no matter what the going interest rate is, and adjustable rate mortgages, which change depending on the changes in a specified index rate. Therefore, with an ARM, if market interest rates drop, the payments may drop, but if market interest rates increase, the payments may increase. Some ARMs have an interest rate cap, which limits how much the interest on the mortgage rate can increase. Other types of loans are available; check with a lender and research the pros and cons of each option.

A legal instrument given by a borrower to the lender entitling the lender to take over pledged property if conditions of the loan are not met.