Blanket Mortgage


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Related to Blanket Mortgage: Package mortgage

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.
References in classic literature ?
Fifty-two were to roll that afternoon on the life-tide of the city to the boundless everlasting sea.
In the infinite meaning of his reply and his boundless confidence in his views, the Jack took one of his bloated shoes off, looked into it, knocked a few stones out of it on the kitchen floor, and put it on again.
But see the angry Victor hath recall'd His Ministers of vengeance and pursuit Back to the Gates of Heav'n: The Sulphurous Hail Shot after us in storm, oreblown hath laid The fiery Surge, that from the Precipice Of Heav'n receiv'd us falling, and the Thunder, Wing'd with red Lightning and impetuous rage, Perhaps hath spent his shafts, and ceases now To bellow through the vast and boundless Deep.
But, suffering much there from loneliness, she soon wrote a pathetic letter to Agatha, entreating her to spend the approaching Christmas vacation with her, and promising her every luxury and amusement that boundless affection could suggest and boundless means procure.
The Queen, whose ambition was boundless, was delighted to see the crown on her son's head and to have the power in her own hands.
Have hundreds of commodious harbors, a thousand leagues of coast, and a boundless ocean, been spread in the front of this land, and shall every purpose of utility to which they could apply be prohibited by the tenant of the woods?
Man's life alone, swifter than time, speeds onward to its end without any hope of renewal, save it be in that other life which is endless and boundless.
It may display the subtlety of the writer; it may open a boundless field for rhetoric and declamation; it may inflame the passions of the unthinking, and may confirm the prejudices of the misthinking: but cool and candid people will at once reflect, that the purest of human blessings must have a portion of alloy in them; that the choice must always be made, if not of the lesser evil, at least of the GREATER, not the PERFECT, good; and that in every political institution, a power to advance the public happiness involves a discretion which may be misapplied and abused.
This theory set no limits to the age of love, so we struck out, in all good faith, into a boundless sea.
By a judicious use of this Law of Nature, the Polygons and Circles are almost always able to stifle sedition in its very cradle, taking advantage of the irrepressible and boundless hopefulness of the human mind.
The endless earth below, The boundless sky above, they know no day Of their return.
Seventeen months captivity to a sailor accustomed to the boundless ocean, is a worse punishment than human crime ever merited.