Mortgage

MORTGAGE. This form is a standard legal document used in New Jersey to secure repayment of a loan with real property as collateral. Through this mortgage, the borrower grants the lender a security interest in the property described, including the land, buildings, fixtures, and related rights. The form references a separate Mortgage Note, outlines the borrower’s repayment obligations, and details the lender’s rights in the event of default, such as foreclosure or acceleration of the debt. It also addresses insurance requirements, taxes, escrow payments, maintenance of the property, and condemnation proceeds. The mortgage must be signed, witnessed, notarized, and recorded with the county recording officer to be effective. www.FormsWorkflow.com