Mortgage is the conferring of the charge of a property or asset to the mortgage lender by the owner of the same. It is the security given against the loan amount to buy the asset. The mortgagee has the right to foreclose on the property if the owner does not satisfy the clause and conditions entailed in the agreement. Even though associated with other forms of assets, the term mortgage is used in relation to real estate. The advantage of mortgage loans is that one can purchase some property easily without paying the full amount. Once the mortgagor repays the loaned amount, the property will be discharged to him immediately.