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mortgage transaction refers to the process of borrowing money from a bank or lender to buy a house, where the house itself is used as collateral or security for the loan. The borrower enters into an agreement with the lender, agreeing to make regular payments over a certain period of time, usually many years, until the loan is fully repaid. If the borrower fails to make the required payments, the lender has the right to take possession of the house, called foreclosure, to recover the outstanding debt.
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