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Is a mortgage a pledge for using house as collateral

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The mortgage is the lien on the property. The payments are defined in the promissory note. The mortgage ties the property to the note.

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The mortgage is the lien on the property. The payments are defined in the promissory note. The mortgage ties the property to the note.

Denita,

If the mortgage is the lien on the proerty, Why doesnt the document specify this?

If "property" is refering to the house, then why is this not specified also?

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The mortgage is the lien on the property. The payments are defined in the promissory note. The mortgage ties the property to the note.

I'm understanding the mortgage is NOT the lien, its pledging your house if you fail to pay on the fees attached to the currency your credit is turned into.

The lien may be placed on the house because of the lien placed on the currency your credit was turned into.

This could also mean the currency we also use for payments, contains the lien as well. So everything we pay with using the currency containing the lien, may automatically belong to the one who has placed the lien on the currency.

this may sound far fetched until you learn the currency is not being controlled from within this country, but controlled from a foreign nation through an agency calling themselves the "Federal Reserve" but are NOT part of the Federal government.

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A Mortgage is an instrument that creates a voluntary lien on real property to secure repayment of a debt.

 

The parties to a mortgage are the mortgagor(borrower) and the mortgagee(lender).  

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