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Participation Mortgages

Definition of "Participation mortgages"

  1. Involves more than one borrower being responsible for a mortgage, such as with a cooperative apartment.
  2. Involves more than one mortgagee lent on a real estate project, such as with a large commercial project.
  3. Agreement between a mortgagee and a mortgagor that provides for the lender having a certain percentage ownership in the project once the lender makes the loan.

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