Posted on: 19th Apr, 2010 08:17 am
What is the difference in a Real estate "Mortgage" and a Collateral Mortgage"?
As far as I know, there is no difference between a collateral mortgage and a real estate mortgage. A collateral mortgage is secured against a real estate. Apart from purchasing the property, the loan proceeds can be used for any other purpose as well. It is same with a real estate mortgage.
mortgage is secured by real property and collateral is security against mortgage like jwellery etc.