Mortgage Agreement

A Mortgage Agreement is a pledge by a borrower that they will relinquish their claim to the property if they cannot pay their loan. Contrary to common belief, a Mortgage Agreement isn't the loan itself; it's a lien on the property. Property can be expensive and sometimes a lender wants more than just the loan agreement to back everything up. A Mortgage Agreement is the remedy in case the loan isn't repaid.

Use the Mortgage Agreement document if:

• You're borrowing money to purchase property.
• You're lending someone money to purchase property.
• You manage a company that makes loans.