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Photo of a house and money

Mis forMortgage

A mortgage is a debt that you repay to a financial institution such as a bank when you buy a house, if you do not have enough money to pay for it yourself. Mortgages are typically paid back over many years. Mortgages are secured by your house, which means the bank has an interest in the house and you cannot sell it and keep the money yourself, you have to pay the bank back first.

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