Mortgage loan, also known as "mortgage loan".
Refers to a loan method adopted by banks in some countries. The borrower is required to provide a certain amount of collateral as a guarantee for the loan to ensure repayment when the loan expires.
Collateral is generally an item that is easy to keep, wear and sell, such as securities, bills, stocks, real estate, etc.
After the loan expires, if the borrower fails to repay the loan on time, the bank has the right to auction the collateral and repay the loan with the proceeds from the auction.
The balance of the auction money after paying off the loan shall be returned to the borrower. If the auction money is not enough to pay off the loan, the borrower will continue to pay off.