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A mortgage is a temporary, conditional pledge of property to a creditor as security for performance of an obligation or repayment of a debt. 

A temporary, conditional pledge of property to a creditor as security for performance of an obligation or repayment of a debt. 

To provide new financing or new financing for, as by discharging a mortgage with the proceeds from a new mortgage obtained at a lower interest rate is commonly known as refinancing.

Home loan is diifferent from a personal asset loan in many ways. Home loans also known as mortgages are used as a collateral to secure loans against it. Personall Asset loann can be gold jewellry, antiques, luxury cars,luxury watches etc. against which a loan is secured depending on the age and the current valuation of the personal asset.

Any legal responsibility, duty or obligation. The state of one who is bound in law and justice to do something which may be enforced by action. This liability may arise from contracts either express or implied or in consequence of torts committed. Some examples of liabilities include mortgages, UCC liens, accounts payable, settlement charges and/or tax liens. 

Lien is the right to retain the lawful possession of the property of another until the owner fulfills a legal duty to the person holding the property, such as the payment of lawful charges for work done on the property. A mortgage is a common lien. Get in touch with Biz2Credit specialists to know more for free at 1-877-861-2210.