consolidated mortgage

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Consolidated Mortgage

A mortgage that one takes out in order to pay off two or more mortgages. The mortgages may or may not be for the same piece of property. A mortgage holder may take out a consolidated mortgage to lower monthly payments or for some other reason. See also: Blanket mortgage, Debt consolidation, Consolidated mortgage bond.

consolidated mortgage

A mortgage made to replace two or more outstanding mortgages.
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