Mortgage

A mortgage (literal translation: "death pledge") is a device developed in the common law world, whereby the ownership of property is passed from one person -- the mortgagor -- to another -- the mortgagee -- in return for the loan of money. The mortgagee is prevented from exercising his rights of ownership by the rules of equity so long as the interest on the loan is paid.

See also

• Deed
• pre-qualification
• pre-approval
• VA loan
• FHA loan
• Commercial Lenders
• mechanics lien
• Refinancing
• eMortgages
• Buy to let