MORTGAGE COMMITMENT

By SovConn | June 1, 2013

mortgage commitment.A lender’s written agreement with a borrower stating the terms on which it will lend money for the purchase of specified real property, usu. with a time limitation.

[Cases: Mortgages 211.C.J.S. Mortgages §§ 274–276.]

[Blacks Law 8th]

Posted in Law Dictionary Definitions