"FSBO" or "buying foreclosures"
"Chicago, IL" or "Florida"
Views: 5089
Mortgage
Definition
A lien against real estate given by a buyer or property owner to the lender as security for money borrowed. Essentially, it is a legal agreement that means if the borrower stops making payments, the lender can take possession of the house. (Note: Literal translation is "death pledge." It comes from Latin: mort ["death"] gage ["pledge"]).
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