A A loan using your home as collateral. In some states, the term mortgage is also used to describe the document you sign (to grant the lender a lien on your home). It also may be used to indicate the amount of money you borrow, with interest, to purchase your house. The amount of your mortgage often is the purchase price... loan that can be taken over (assumed) by the buyer when a home is sold. An A homebuyer’s agreement to take on the primary responsibility for paying an existing mortgage from a home seller.... of a mortgage is a Applies to any business dealing. In real estate, it is an instance of exchanging ownership of a property. ... in which the buyer of Land and anything permanently affixed thereto — including buildings, fences, trees, and minerals.... takes over the seller’s existing mortgage; the seller remains liable unless released by the The lender providing funds for a mortgage. Lenders also manage the credit and financial information review, the property and the loan application process through closing.... from the obligation. If the mortgage contains a A provision in a mortgage that allows the lender to demand repayment in full of the outstanding balance if the property securing the mortgage is sold...., the loan may not be assumed without the lender’s consent.