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mortgage
(redirected from Equity Mortgage)

   Also found in: Dictionary/thesaurus, Legal, Financial, Encyclopedia, Wikipedia 0.02 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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Many people go for equity mortgage to pay for major purchases, trips and other consumer goods for its tax deductibility.
Pre-purchase counseling covers the rights and obligations of homeowners, HUD mortgage programs, the process of applying for mortgage insurance, financing, refinancing to avail of lower interest rates, reverse equity mortgage program and the buying process.
A home equity mortgage in today's marketplace is more difficult to locate, but still not impossible.
 
 
 
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