Definitions for "CLOSED-END MORTGAGE"
A mortgage loan whose principal amount cannot be increased during the pay-out period; contrast with open-end mortgage.
A mortgage under which the mortgagor is prohibited from borrowing additional funds under the same mortgage.
A mortgage for which repayment may not be made prior to maturity, and for which repledging of the same collateral requires the bondholder's permission. also called closed mortgage. see also open-end mortgage.
Keywords:  loan
Closed Loan