Category: M

a mortgage on a property that takes precedence over any other mortgages and must be paid off first.

A bundle of numerous mortgages as a specific type of security. Packaged and sold to investors as shares or certificates. The investor diversifies their risk and receives regular income payments. See pass through.

the term given to a general mortgage that covers all of a debtor’s property.

Listed as a long-term liability in a firm’s balance sheet. The obligation’s current portion that is due within a year of the balance sheet date is listed as a current liability.

Losses stemming from errors or omissions are mitigated and protects mortgage holders of commercial property.

Mortgage lenders protection policy for default events. Government agencies often require mortgage insurance as part of a loan agreement. The borrower/mortgagor buys it. Also refer to mortgage redemption insurance.

Mortgage interest paid is tax deductible. Monies paid above principal for providing the loan to purchase the borrower’s home. Paid by a home mortgage borrower to the mortgage lender.

For annual interest payments made on real estate loans, this is a IRS tax write-off allowed most homeowners .

Borrowers seeking to buy a home use this money-source entity for loans.

Property mortgaged with a legal claim by the lender.