Examlex
How is personality defined
Mortgage
A legal agreement by which a bank, credit union, or other lender lends money at interest in exchange for taking title of the debtor's property, with the condition that the conveyance of title becomes void upon the payment of the debt.
Mortgage Loans
A loan secured by the collateral of some specified real estate property which the borrower is obliged to pay back with a predetermined set of payments.
Mortgage Insurance
An insurance policy designed to protect the lender from the risk of default and foreclosure on a mortgage.
Down Payment
The part of the purchase price of real property that is paid in cash up front, reducing the amount of the loan or mortgage.
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