Working Capital Management Interview Question:

What is Mortgage?

Submitted by: Administrator

Mortgage is a mode of security in which the legal interest in a specific immovable property is transferred as security for the payment of debt. The party who transfers the interest is called mortgager and party in whose favour the interest is so transferred is called mortgagee. The borrower possesses the property while the bank gets full legal title, subject to borrower's right, to repay to debt.
Submitted by: Administrator