What is the purpose of mortgage?


3 Answers

Ancient Hippy Profile
Ancient Hippy answered

A mortgage is a loan of money used to buy property.

Charles  Bosse Profile
Charles Bosse answered

The main purpose of mortgage is to make the charging of property by a debtor to a creditor as security for a debt, especially one incurred by the purchase of the property. 

Max Mortiz Profile
Max Mortiz , The Eddie Mortgage Team, answered

Mortgage purpose is to help someone to have a property in an installment mode of payment. Mortgage is a legal document that pledges a property to the lender as security for payment of a debt.

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