Understanding Mortgages: Meaning and Purpose
A mortgage is a loan used to finance the purchase or maintenance of property, land, or rental properties. The lender agrees to provide the funds, which must be repaid over time.
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A mortgage is a loan financing the purchase or maintenance of a property, land, or other types of rental properties. The lender agrees to pay back the loan over some time, generally in a series of regular installments divided into principal and interest. The property serves as protection for loans.
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Published
Dec 5, 2023
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