Info on Mortgage

A mortgage is the transfer of debtor’s property as collateral for the amount of money that is borrowed from the creditor. This acts as a security for the debt that has been borrowed, thus we can say that mortgage is not a debt but the security that we provide to the creditor for taking a debt. Here the debtor could be an individuals or businesses. Mortgages can be of different types depending on the type pf property that has been mortgaged.