When a person is in need of money, the only way to get the money through legal mechanism is using of real or personal property. This is done taking property as security by the lender. This process of securing debt is mortgage and is mortgage loan. The term mortgage means dead pledge taken from old French literature. Mortgages are more importantly used for the loans obtained on real estates than any other kind of property. There are some cases where only land is used for mortgaging. In case of business individuals mortgaging is a standard method in buying of real estates commercial or residential without the necessity of paying the full value of the property on spot or immediately.

There are different methods and variants of mortgaging such as mortgage loan, commercial mortgage, mortgage by demise, company mortgage, mortgage rate, bad credit mortgage, lending mortgage and so on. All the different terms in mortgage refers to the type of legal agreement and terms of securing the property through legalistic jurisdictions. Legal system in common has concepts employing variant terminologies, debtor, creditor and other participants, who are the actors involved in mortgage and remain till returning back of the mortgaged property to the debtor.

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