<P> A mortgage loan , or simply mortgage , is used either by purchasers of real property to raise funds to buy real estate , or alternatively by existing property owners to raise funds for any purpose , while putting a lien on the property being mortgaged . The loan is `` secured '' on the borrower 's property through a process known as mortgage origination . This means that a legal mechanism is put into place which allows the lender to take possession and sell the secured property ( `` foreclosure '' or `` repossession '' ) to pay off the loan in the event the borrower defaults on the loan or otherwise fails to abide by its terms . The word mortgage is derived from a `` Law French '' term used by English lawyers in the Middle Ages meaning `` death pledge '' and refers to the pledge ending ( dying ) when either the obligation is fulfilled or the property is taken through foreclosure . A mortgage can also be described as `` a borrower giving consideration in the form of a collateral for a benefit ( loan ) '' . </P>
<P> A mortgage loan , or simply mortgage , is used either by purchasers of real property to raise funds to buy real estate , or alternatively by existing property owners to raise funds for any purpose , while putting a lien on the property being mortgaged . The loan is `` secured '' on the borrower 's property through a process known as mortgage origination . This means that a legal mechanism is put into place which allows the lender to take possession and sell the secured property ( `` foreclosure '' or `` repossession '' ) to pay off the loan in the event the borrower defaults on the loan or otherwise fails to abide by its terms . The word mortgage is derived from a `` Law French '' term used by English lawyers in the Middle Ages meaning `` death pledge '' and refers to the pledge ending ( dying ) when either the obligation is fulfilled or the property is taken through foreclosure . A mortgage can also be described as `` a borrower giving consideration in the form of a collateral for a benefit ( loan ) '' . </P>
what is the typical term for a mortgage loan
what is the typical term for a mortgage loan
mortgage
mortgage