Blanket Mortgage

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Dictionary Says

Definition of 'Blanket Mortgage'

A mortgage which covers two or more pieces of real estate. The real estate is held as collateral on the mortgage, but the individual pieces of the real estate may be sold without retiring the entire mortgage.
Investopedia Says

Investopedia explains 'Blanket Mortgage'

This is an alternative to a developer having to take out numerous individual properties within a large property purchase that they intend to sell in individual parts. The blanket mortgages are typically taken out to cover the costs of purchasing and developing land that developers plan to subdivide into individual lots.

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Related Definitions

  1. Mortgage

    A debt ...
  2. Real Estate

    Land plus ...
  3. Commercial Real Estate

    Property that is ...
  4. Real Estate Investment Trust - REIT

    A security that ...
  5. Collateral

    Property or ...
  6. Secured Debt

    Debt backed or ...
  7. Blanket Lien

    A lien that ...
  8. Blanket Insurance

    A single policy ...
  9. Blanket Appropriation

    Expenditures ...
  10. Delinquent

    The failure to ...

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