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 undeveloped lots could mortgage those lots in order to build homes on them. Instead of taking a mortgage on each property, the real estate developer takes out one mortgage on the combined value of the properties.
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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 ...
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Nov 16, 2009 ... Go to http://www.corporatevocabulary.com for the complete lesson on Blanket Mortgage and a full course to give you the vocabulary and ...
- Blanket Mortgage - Mortgage Glossary | Quicken Loans
Blanket Mortgage definition from the mortgage glossary at QuickenLoans.com. Learn mortgage terms and jargon with the Quicken Loans Mortgage Glossary.
- Blanket Mortgage
Blanket Mortgage. A mortgage creating a lien against two or more tracts of real property. For example, if you owned three properties and instead of borrowing ...
- Blanket Mortgage - Financial Dictionary - The Free Dictionary
A mortgage that covers at least two pieces of real estate as collateral for the same mortgage. Blanket Mortgage. A single mortgage used to buy more than one ...