Blanket Mortgage

(redirected from Blanket Mortgages)
Also found in: Dictionary.

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 periodicals archive ?
This then affected all five of my properties as they were all connected through the blanket mortgage.
Recently several new firms have arranged lending units to provide blanket mortgage financing to small to middle SFR operators, including B2R Finance, formed by Blackstone, which also founded Invitation Homes; Santa Monica.
Cuddy, SMOC's executive director, said the former Willis Center buildings had to be sold as a package because the center had two blanket mortgages covering its entire real estate portfolio, not separate mortgages for each building.