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TeachMeFinance.com - explain seasoned mortgage seasoned mortgage -- a mortgage that has been in effect at least one year and on which principal and interest payments are being made on time. 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.