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Pronounce Mortgage as M OW R T G AH G EH.
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Continue readinga loan given from a financial institution for a person’s property which causes the person to pay it back plus interest
mortgage(verb)a conditional conveyance of property as security for the repayment of a loan
mortgage(verb)put up as security or collateral
to obligate by prior agreementI've mortgaged all my free time this week to the hospice and won't be able to come to the party
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1. When the Petersons failed to make their mortgage payments, the bank manager showed no compunction and quickly foreclosed on the couple’s home.
2. Once the young couple signed the housing documents and wrote a check for the down payment, they only had 360 more months of payments until their mortgage would be over.
3. Because the mortgage payment was now unsustainable the jobless man was forced to file for bankruptcy.
4. Hiring an attorney to stop the foreclosure, the man was able to repay his mortgage while still maintaining his residence.
5. The terms of the mortgage included the interest rate at 3.92% with a fixed rate for 30 years.
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