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Definition Of Mortgage:


n A grant of a security interest in real property to secure a loan, often for the purchase of the property.
A loan secured by an interest in real property. The paperwork reflecting such a loan and security interest.purchase money mortgageA mortgage that secures debt incurred in connection with the property as to which the mortgage is given, for example, a mortgage on one's home given to secure a loan given in order to purchase that home.

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