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What is a mortgage? source: http://www.freddiemac.com |
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| A mortgage is a lien on a property/house that secures a loan and is paid in installments over a set period of time. The mortgage secures your promise that you'll repay the money you've borrowed to buy your home. Mortgages come in many different shapes and sizes, each with its own advantages and disadvantages. Make sure you select the mortgage that is right for you, your future plans, and your financial situation. | |
| Primary Mortgage Market Survey® data provided by Freddie Mac | |