Mortgage payments are typically made on a monthly basis, and these loans usually come with 15- or 30 -year terms. What is a mortgage loan. A mortgage loan is used to finance a real estate purchase. The lender provides the borrower with the funds needed to complete the property purchase. The borrower what a personal installment loan to fully repay the loan with regular payments that cover principal and interest, spread out over a set number of years.
If the borrower fails to make the agreed-upon payments, the lender has the right to take possession of the property. Are mortgage loans public record. Mortgage easiest cash loan are public record.
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