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open-end mortgage

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open-end mortgage

 
Use open-end mortgage in a Sentence
–noun
a mortgage agreement against which new sums of money may be borrowed under certain conditions.
Dictionary.com Unabridged
Based on the Random House Dictionary, © Random House, Inc. 2009.
Cite This Source Link To open-end mortgage
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www.blue-mantra.com
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Financial Dictionary

open-end mortgage

A mortgage that permits the issuer to sell additional bonds under the same lien. If the amount of additional bonds is restricted, the mortgage is referred to as a limited open-end mortgage. Compare closed-end mortgage.

Wall Street Words: An A to Z Guide to Investment Terms by David L. Scott.
Copyright © 2003. Published by Houghton Mifflin.
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Legal Dictionary

Main Entry: open–end mortgage
see MORTGAGE
Merriam-Webster's Dictionary of Law, © 1996 Merriam-Webster, Inc.
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