Definition: Mortgage house refers to a building or property that acts as a mortgage on another, often a bank or other financial institution, in order to secure the loan for the borrower. The term "mortgage" can refer to several different things depending on context, including but not limited to: 1. An insurance policy purchased by a homeowner to protect their home against loss due to an unforeseen event such as theft, fire, or natural disasters. 2. A legal agreement between two parties that allows one party to receive money in exchange for a promise from another party, often with the understanding that the latter will pay back the money eventually. 3. In some contexts, "mortgage" can also refer to a form of debt where creditors take out loans or other financial obligations on the borrower's property as collateral (often called "secured") so they can recoup their investment in the loan. Overall, "mortgage house" refers to an asset or property that is secured by a loan or agreement with another party.
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