Blanket mortgage: Difference between revisions

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A blanket loan, or blanket mortgage, is a mortgage client securing several parcels of property, frequently used by developers who have purchased a single tract of land intending to subdivide into individual parcels. The developer normally requires a "partial release" clause so that individual parcels can be released from the blanket mortgage as they are sold.

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	A '''blanket loan''', or '''blanket mortgage''', is a [[mortgage]] client securing several parcels of property, frequently used by developers who have purchased a single tract of land intending to subdivide into individual parcels. The developer ~~normal~~ requires a "partial release" clause so that individual parcels can be released from the blanket mortgage as they are sold.		A '''blanket loan''', or '''blanket mortgage''', is a [[mortgage]] client securing several parcels of property, frequently used by developers who have purchased a single tract of land intending to subdivide into individual parcels. The developer normally requires a "partial release" clause so that individual parcels can be released from the blanket mortgage as they are sold.
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