Last Train to Clarksville

Friday Finance Terms

In keeping you up to date on the Real Estate world and terms that we might be wondering, “What does that mean?”, I am starting today with Friday Finance Terms.

This week will be the term, “Mortgage”.  Since we are in the field of Real Estate, let’s define Mortgage.

*MORTGAGE: debt instrument by which the borrower (mortgagor) gives the lender (mortgagee) a lien on property as security for the repayment of a loan.  The borrower has use of the property, and the lien is removed when the obligation is fully paid.  A mortgage normally involves real estate. For personal property, such as machines, equipment, or tools, the lien is called a chattel mortgage.

*Barron’s Financial Guide Dictionary of Finance and Investment Terms, Seventh Edition, pg. 434

Have a great weekend and if you see anything for sale, anywhere, by ANYONE, please call, text or email me and I will work at getting you the information you request.

If you would like to see if you qualify for a mortgage loan, please contact Amanda Dusenberry at 931-980-3999 and mention our Blog.

Blessings~

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