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Meaning / Definition of

Home Mortgage

Categories: Finance,

Home Mortgage is a loan secured by real property. If a homebuyer or builder obtains financing  topurchase the property from a financial institution, the security of the lenderis ensured through the use of a mortgage note. The note evidences the existenceof the loan. If the borrower does not pay the loan back, the lender may coverthe loss from selling the property.

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