installment mortgage

installment mortgage
noun
: a mortgage in which the sum loaned is to be repaid in installments over a period of time

Useful english dictionary. 2012.

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  • Chattel mortgage — Chattel mortgage, sometimes abbreviated CM, is the legal term for a type of loan contract used in some states with legal systems derived from English law. Under a typical chattel mortgage, the purchaser borrows funds for the purchase of movable… …   Wikipedia

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