The basic definition of a secured loan is that it’s a loan that is backed by collateral, typically an asset like real estate,
A blanket mortgage is a type of financing that can provide an efficient way to procure a loan for multiple properties.
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blanket mortgage: A mortgage which creates a lien on two or more pieces of property. blanket mortgages are often used by individuals or companies that have more than one piece of real estate, and that want to take out a mortgage or second mortgage on the combined value of their properties. For example, a real estate developer with several.
· A blanket mortgage is a mortgage that covers two or more pieces of real estate. The real estate is held as collateral on the mortgage, but the individual pieces of the real estate may be sold without. Definition A mortgage which creates a lien on two or more pieces of property.
· How much do you know about blanket loans? Do you know the related clauses and terminology? Test your knowledge with our Blanket Loan Quiz. This is a multiple choice quiz with answers at the end. **Hint all of the answers can be found in the "Blanket Loans" section of our blog. Create your own user feedback survey
Blanket Mortgage Definition: A blanket mortgage is financing that covers multiple plots of land in a purchase by one borrower. Frequently, land developers will use the blanket mortgage to buy a larger piece of land for the purpose of splitting it into numerous separate parcels for development or resale.
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A blanket loan, or blanket mortgage, is a type of loan used to fund the purchase of more than one piece of real property. Blanket loans are popular with builders and developers who buy large tracts of land, then subdivide them to create many individual parcels to be gradually sold one at a time.