Mortgage

What does it Mean? 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".
 
Investopedia Says... 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.

Terms Related Links

Adjustable-Rate Mortgage - ARM
Assumable Mortgage
Conforming Loan
Conventional Mortgage
Fannie Mae - Federal National Mortgage Association - FNMA
Graduated Payment Mortgage
Guaranteed Investment (Interest) Certificate - GIC
House Poor
Hypothecation
Lien
Mortgage Broker
Partial Release
Variable Interest Rate(mortgage)

Terms Related Links
Got A Good Mortgage Rate? Lock It Up! - Rising rates mean rising profits for lenders, providing incentive to increase rates whenever possible.

Pre-Qualified Vs. Pre-Approved - What's The Difference? - These terms may sound the same, but they mean very different things for home buyers.

Shopping For A Mortgage - It starts with knowing your choices as well as your price range. We show you how to get there.

Understanding the Mortgage Payment Structure - We explain the calculation and payment process as well as the amortization schedule of home loans.

Paying Off Your Mortgage - This may be the biggest debt you'll ever incur. Learn why you should retire it sooner rather than later.

Invest In Spite Of Debt - Get off that sinking ship with a portfolio life preserver.

Burdening Your Retirement With A Mortgage - Carrying this debt can have benefits if done correctly, but is it worth the risk?

Home-Equity Loans: The Costs - Learn the factors to consider when comparing the different programs offered by various lenders.

Choose Your Monthly Mortgage Payments - Exotic mortgages allow you to decide how much to pay. Find out how much they really cost.

Exploring Real Estate Investments: What Is Real Estate? - Find out which areas you should most invest in: equity, debt, private or public.

Mortgage Basics: Introduction - Getting a mortgage is one of the most important aspects of buying real estate. Build the foundation you need to find and secure the right mortgage.

ARMed And Dangerous - In a climate of rising interest rates, having an adjustable-rate mortgage can be risky.

Can You Live A Debt-Free Life? - Avoiding loans goes against the norm but it can be possible - and enjoyable.

A Tax Primer For Homeowners - Go beyond interest and find out how mortgage points affect your taxable income.

Investing In Real Estate - Owning property isn't simple, but there are plenty of perks. Find out how to buy in.

VA Loans - Veteran home loans from the VA Mortgage Center.com

What is an assumable mortgage?

What is a tranche?

Explosive Gains In Forex – Learn what makes the currency markets move with your exclusive free report!





add investopedia foot
www.investopedia.com