Define: Mortgage Value
Mortgage Value means the lesser between the maximum secured amount and the appraised property value.
Mortgage Value means the lesser between the maximum secured amount and the appraised property value.
Relevant Circumstances
- When a property owner is seeking a loan for a property
- When refinancing a property
- When restructuring a debt
- When a property is being used as collateral for a loan
- In secured transactions involving real property