Mortgage Instrument
Definition of "Mortgage instrument"
A written mortgage document. A mortgage instrument states the terms of the mortgage including the interest rates, length of payments, payment dates, and remedies the bank is entitled to in the event of the mortgagor's failure to pay as required including late charges.
Popular Real Estate Terms
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Sections of a homeowner policy. Section I relates to the home, contents, and accompanying structures. Section II provides comprehensive coverage for personal liability and the medical ...
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