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mortgage
(redirected from 50 year mortgage)

   Also found in: Dictionary/thesaurus, Legal, Financial, Encyclopedia, Wikipedia 0.01 sec.
mortgage,
n a right given to the creditor over the property of the debtor for the security of the debt; invests the creditor with the power to have the property seized and sold in default of payment.


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Now, there is the new 50 year mortgage and if the 40 year mortgage took the finance world by storm the 50 year mortgage is leaving many people speechless.
Of course there are other far more responsible (slight sarcasm) lenders who are offering just 40 or 50 year mortgages, but I think you get the gist of my opinion on this by now.
Byline: NICKY BURRIDGE HOMEOWNERS may soon have to take out 50 year mortgages to afford to buy, an expert said yesterday.
 
 
 
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