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Blanket Mortgage |
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Blanket Mortgage A mortgage that covers at least two pieces of real estate as collateral for the same mortgage. Blanket Mortgage A single mortgage used to buy more than one piece of property. The multiple properties serve as collateral for the blanket mortgage, but they may be sold individually. Real estate developers may use blanket mortgages to consolidate the borrowing necessary to buy properties for their businesses. In addition to paying for the properties underlying the mortgage, a real estate developer may use a blanket mortgage to cover the cost of developing the property. How to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit webmaster's page for free fun content. |
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A $16 million new blanket mortgage for seven apartment buildings on Sound Second St. A $16 million blanket mortgage for seven elevator buildings on South Second St. The new blanket mortgage, issued by General Electric Capital Corporation, replaced previous financing by the Dime Savings Bank. |
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