what is mortgage
mortgage is using property as security for the payment of a
debt.
The term mortgage refers to the legal device used in securing
the property,
but it is also commonly used to refer to the debt secured by the
mortgage.
a mortgage is seen as the standard method by which individuals
or businesses can
purchase residential or commercial real estate without the need
to pay the full value immediately.
In many countries it is normal for home purchase to be funded by
a mortgage.
In countries where the demand for home ownership is highest,
strong domestic markets have developed;
notably in USA, CANADA, Great Britain, Spain. |