Mortgage or mortgage? Expert advice!

The word "Mortgage" comes from the English word "mortgage", which refers to both "mortgage loan" and "commercial housing mortgage loan". It means that the mortgagor (borrower) mortgages his legally owned property to the mortgagee (lender) as collateral, ensures that the mortgagee is the first beneficiary, and performs all obligations under the commercial housing mortgage (mortgage) loan contract in order to obtain a loan of a certain amount and term from the mortgagee.

Mortgage can be divided into existing mortgage loans and unfinished mortgage loans. Mortgage of existing buildings means that borrowers borrow money to buy existing buildings and use the purchased existing buildings as collateral. The mortgage of uncompleted flats is a mortgage loan provided by financial institutions to buyers who purchase uncompleted flats (buildings that are pre-sold in whole, in layers or units before completion) according to the purchase contract, with the borrower's rights as collateral.

"Mortgage" has two meanings: real estate mortgage and installment repayment. It means that the mortgagor transfers the property right of the property to the mortgage beneficiary (bank) as a repayment guarantee, and after repayment, the mortgage beneficiary transfers the property right of the property back to the mortgagor. Specifically, the mortgage loan refers to the purchase of the building as collateral to obtain loans from the bank, and the purchase of the house pays the bank in installments according to the repayment method and time limit agreed in the mortgage contract; Banks charge interest at a certain rate. If the lender defaults, the bank has the right to take away the house.