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Mortgage.

Written agreement by which an institution(bank) agrees to lend money to buy property.

This is a simple definition ive come up with so i can understand. If there is anything I have missed, please add in simplified form.

Question ID
534402

Created
April 21, 2011 12:38am UTC

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https://questions.llc/questions/534402

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  1. Also included in the mortgage agreement is the borrower's promise to repay that loan at a certain percent interest.

    Answer ID
    534408

    Created
    April 21, 2011 12:44am UTC

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