09/12/2007
In order to grant a home loan, the bank requires a guarantee: by definition, the most common of these is the mortgage.
A mortgage gives the bank the right to be repaid from the proceeds of any forced sale of the asset offered as collateral, with priority over other creditors.
A mortgage has better legal standing if it is a first mortgage, i.e. if there are no higher-priority mortgages: a "land credit" guarantee generally requires a first mortgage.
A mortgage is established over the