Switch to ADA Accessible Theme
Close Menu
Call For Tampa Probate

Call Us Today!

(813) 492-7798
Tampa Probate Lawyer

What Is A Mortgage?

Request a Consultation
Tampa Probate Lawyer / Blog / Mortgages / What Is A Mortgage?

What Is A Mortgage?

The original phrase “mort gage” translates as “death pledge”! But as this video explains, a mortgage is a loan obtained to purchase real estate. The “mortgage” itself is a lien – a legal claim on the home or property that secures the promise to pay the debt.

All mortgages have two features in common: principal and interest.

The principal is the amount you are borrowing which is “secured” by the lender’s claim on the property.

The interest, usually stated as the percentage rate is the additional amount paid for borrowing. Mortgage interest is ‘compounded’ – interest on interest, over time.

Facebook Twitter LinkedIn

Request A Consultation

* Required Field

By submitting this form I acknowledge that contacting the Messina Law Group, P.A., through this website does not create an attorney-client relationship, and any information I send is not protected by attorney-client privilege.

protected by reCAPTCHA Privacy - Terms