We more and more often hear this word. And we ourselves constantly talk about mortgage rates and opportunities of taking a mortgage ourselves. But what is a mortgage?

A mortgage is the transfer of an interest in property (or the equivalent in law - a charge) to a lender as a security for a debt - usually a loan of money. While a mortgage in itself is not a debt, it is the lender's security for a debt. It is a transfer of an interest in land (or the equivalent) from the owner to the mortgage lender, on the condition that this interest will be returned to the owner when the terms of the mortgage have been satisfied or performed. In other words, the mortgage is a security for the loan that the lender makes to the borrower.

This comes from the Old French "dead pledge," apparently meaning that the pledge ends (dies) either when the obligation is fulfilled or the property is taken through foreclosure.

Another serious matter is a mortgage insurance. But where to learn about the insurance quote and what is a landlord insurance and what is the best place to buy it? The answers to all these questions and many other questions concerning the mortgage and mortgage rates can easily be found online. You will be able to find lots of resources dedicated to the matter. You will also be able to consult an expert online and often even get a free advice.