what is a mortgage?

A mortgage is usually a significant amount of money borrowed from a Bank or Building Society to enable people to buy a house or property. The mortgage is paid back monthly over a long period of time until repaid in full and the householder then owns the property outright. My dad has a mortgage and hopes to fully pay it all back when he retires from work.
Comments (1)
03 Dec 2018
That is a good explanation for what great mortgage is.
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