| 释义 |
Blanket mortgage
| 1. | One that covers a group or class of things or properties instead of one or more things mentioned individually, as where a mortgage secures various debts as a group, or subjects a group or class of different pieces of property to one general lien. |
Blanket Mortgage
Blanket MortgageA mortgage that covers at least two pieces of real estate as collateral for the same mortgage.Blanket MortgageA single mortgage used to buy more than one piece of property. The multiple properties serve as collateral for the blanket mortgage, but they may be sold individually. Real estate developers may use blanket mortgages to consolidate the borrowing necessary to buy properties for their businesses. In addition to paying for the properties underlying the mortgage, a real estate developer may use a blanket mortgage to cover the cost of developing the property. |