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Mortgage
Real Estate Investing Definition

The definition of Mortgage is:

A legal document pledging property as security for the payment of a loan and a lien or claim against real property given by the buyer to the lender as security for money borrowed. Under government-insured or loan-guarantee provisions the payments may include escrow amounts covering taxes hazard insurance water charges and special assessments. Mortgages generally run from 10 to 30 years during which the loan is to be paid off.

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