mortgage

mortgage definition - business

mortgage

A pledge of specific property as security for a loan. See also adjustable-rate mortgage, closed-end mortgage, first mortgage, no-doc loan, rehabilitation mortgage, reverse mortgage, second mortgage.

The American Heritage® Dictionary of Business Terms Copyright © 2009 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company. All rights reserved.

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