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TeachMeFinance.com - explain mortgage Mortgage -- a lien on the property that secures the Promise to repay a loan. another definition... Mortgage -- is a document signed by a borrower when a home loan is made that gives the lender a right to take possession of the property if the borrower fails to pay off the loan. another definition... mortgage -- a legal document by which real property is pledged as security for the repayment of a loan; the pledge is canceled when the debt is paid in full. historic definition... Mortgage -- A mortgage is a lien or a conveyance for the security of a debt, which becomes void upon the payment of the debt. For additional information see Bond. About the author Mark McCracken Author: Mark McCracken is a corporate trainer and author living in Higashi Osaka, Japan. He is the author of thousands of online articles as well as the Business English textbook, "25 Business Skills in English". Copyright © 2005 by Mark McCracken, All Rights Reserved. TeachMeFinance.com is an informational website, and should not be used as a substitute for professional financial or legal advice. TeachMeFinance.com and its owner recommend consultation with a professional financial advisor prior to any investment or financial decision. Please read our disclaimer.