Friday, October 23, 2026
A mortgage home loan
A mortgage loan is a secured loan used to buy, build, or refinance real estate, where the property acts as collateral for the lender. If you cannot repay the debt, the bank can seize and sell the property through a legal process.
How Mortgages Work
• Collateral: The lender places a legal lien on your home or land title until the debt is paid in full.
• Principal and Interest: Your monthly payments split into principal (paying back the original amount borrowed) and interest (the lender's fee).
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