Mortgage burden

Mortgage burden – this term describes a legal burden on the mortgagor’s property securing the mortgage loan previously obtained. If you are a creditor, I then it is advisable to hire an independent property lawyer to check the legal status of the real estate, offered as a security, before mortgaging it, in order to ensure there are no previous pending mortgages in favor of 3rd parties on it that would make the new mortgage – a useless one.

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