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Financing in 92629 : Real Estate Advice

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Thu Mar 29, 2012
answered:
A mortgage is a document that is recorded in the county clerk’s office that tells the world that the property has been pledged for a debt. The actual debt instrument is a note which is not recorded with the mortgage. The mortgage is evidence that a note, the debt instrument, exists.

It means someone borrowed money and put up a piece of real estate as collateral for the loan.
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