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Definitions from the Web

Mortgage

Definition:

A mortgage is a loan that is used to purchase a property, typically a house or real estate, where the borrower agrees to repay the loan in regular installments over a specified period of time. The property acts as collateral for the loan.

Senses:

Sense 1 (Noun):

A legal agreement by which a bank or other creditor lends money at interest in exchange for taking title of the debtor's property, with the condition that the conveyance of title becomes void upon the payment of the debt.

Example Sentences:

1. He took out a mortgage to buy his dream home.
2. The bank owns a portion of the house due to the outstanding mortgage.
3. We secured a low-interest mortgage for our new apartment.

Sense 2 (Verb):

To grant a mortgage on a property or to secure a loan with a property as collateral.

Example Sentences:

1. They mortgaged their property to start a new business.
2. He decided to mortgage his house for a large sum of money.
3. She planned to mortgage the land to fund the construction project.

Related Products on Amazon:

Books on Mortgages

Mortgage Lenders