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FAQ Real Estate Dictionary O Open-End Mortgage
FAQ Real Estate Dictionary O Open-End Mortgage
Open-End Mortgage
- DATE ADDED:
- Tuesday, 07 April 2009
- FAVOURED:
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ANSWER
A mortgage in which the borrower is given a limit up to which he may borrow, with any incremental advances of money up to but not exceeding the original borrowing limit to be secured by the same mortgage.