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GENERAL FINANCING QUESTIONS: THE BASICS 33. WHAT IS A MORTGAGE?

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GENERAL FINANCING QUESTIONS: THE BASICS 33. WHAT IS A MORTGAGE?

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Generally speaking, a mortgage is a loan obtained to purchase real estate. The “mortgage” itself is a lien (a legal claim) on the home or property that secures the promise to pay the debt. All mortgages have two features in common: principal and interest.

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