
Mortgage
Financial Commitment
A mortgage is a long-term financial obligation, often 15 to 30 years.

Before taking out a mortgage, consider your ability to make long-term payments.
Default Consequences
Failing to repay a mortgage can result in losing your home to the lender.

If they default on the mortgage, the bank may foreclose on their home.
Cultural Significance
Owning a home with a mortgage is often linked with success and stability in many cultures.

Their goal was to have a mortgage by 30, as a sign of financial achievement.
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ChargeClaimDebtEncumbranceLienLoanPledgeSecurity
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