Mortgage


Mortgage
A debt instrument that is secured by the collateral of specified real estate property and that the borrower is obliged to pay back with a predetermined set of payments. Mortgages are used by individuals and businesses to make large purchases of real estate without paying the entire value of the purchase up front.

Mortgages are also known as "liens against property" or "claims on property".

In a residential mortgage, a home buyer pledges his or her house to the bank. The bank has a claim on the house should the home buyer default on paying the mortgage. In the case of a foreclosure, the bank may evict the home's tenants and sell the house, using the income from the sale to clear the mortgage debt.


Investment dictionary. . 2012.

Synonyms:
(for the payment of a debt)


Look at other dictionaries:

  • Mortgage — (ипотека) право получить удовлетворение за счет недвижимости, выступающей в качестве обеспечения кредита …   Ипотека. Словарь терминов

  • mortgage — mort·gage 1 / mȯr gij/ n [Anglo French, from Old French, from mort dead (from Latin mortuus ) + gage security] 1 a: a conveyance of title to property that is given to secure an obligation (as a debt) and that is defeated upon payment or… …   Law dictionary

  • Mortgage — Mort gage (m[^o]r g[asl]j; 48), n. [F. mort gage; mort dead (L. mortuus) + gage pledge. See {Mortal}, and {Gage}.] 1. (Law) A conveyance of property, upon condition, as security for the payment of a debt or the preformance of a duty, and to… …   The Collaborative International Dictionary of English

  • Mortgage — kann bezeichnen: Mortgage (England und Wales), eine Sicherheit für eine Forderung nach englischem Recht Mortgage (Vereinigte Staaten), eine Sicherheit für eine Forderung nach US amerikanischem Recht Mort gage, in der französischen… …   Deutsch Wikipedia

  • mortgage — [môr′gij] n. [OFr morgage, mort gage, lit., dead pledge < mort, dead (see MORT1) + gage,GAGE1] 1. a) the pledging of property to a creditor as security for the payment of a debt b) such a debt 2 …   English World dictionary

  • mortgage — Note the spelling with t . The lender in a mortgage contract is called the mortgagee, and the borrower the mortgager (or in legal work, mortgagor) …   Modern English usage

  • Mortgage — Mort gage, v. t. [imp. & p. p. {Mortgaged}; p. pr. & vb. n. {Mortgaging}.] 1. (Law) 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 Collaborative International Dictionary of English

  • mortgage — An interest given on real property to guarantee the payment of a debt or execution of some action. (Dictionary of Canadian Bankruptcy Terms) United Glossary of Bankruptcy Terms 2012 …   Glossary of Bankruptcy

  • mortgage — (izg. mòrgidž) m DEFINICIJA term. poseban pravni institut engleskoga prava; hipoteka, zalog, založena imovina ETIMOLOGIJA engl. ← stfr. ← mort: mrtav (← lat. mortuus: mrtav) + gage: zalog, jamstvo …   Hrvatski jezični portal

  • mortgage — [n] loan agreement contract, debt, deed, homeowner’s loan, pledge, title; concept 332 …   New thesaurus

  • mortgage — ► NOUN 1) a legal agreement by which a person takes out a loan using as security real property (usually a house which is being purchased). 2) an amount of money borrowed or lent under such an agreement. ► VERB ▪ transfer the title to (a property) …   English terms dictionary


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