Definitions for "open-end mortgage"
Mortgage in which the mortgagor is allowed to re-borrow against principal that has been paid so far.
One which provides that the outstanding balance can be increased in order to advance additional loan funds to the borrower, up tothe original sum of the note.
a lien from the time of record for the full debt, but an advance after the lender receives written notice of a lien or encumbrance and is not obligated to advance is subordinate to the lien or encumbrance except when for the improvements