Mortgage Document

A mortgage document is a written document by which the owner of a property uses the title to the property as collateral to secure a loan from a financing company, to whom the interest in the property is transferred. A rate of interest is fixed and the borrower keeps making monthly installments of payments till the full amount is returned and then the mortgage is discharged. If the borrower defaults on payment, the title of the property is fully transferred to the lender, after giving a notice to the borrower. Mortgage documents can be commercial or residential, depending on the type of property mortgaged.

Sample Mortgage Document:

Mortgage Document

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