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Marketing Principle Lecture 6 MortgageWhat is a mortgage?A form of secured lending (eg:pawnshop当铺，car loans)The loan is “secured” against the property over which the mortgage is taken.Unsecured lending== based on reputation, eg: credit cardConditions of contract:Loan(term,r,repayment) and property(insurance, limitation on use, location)Different conditions, different interest rate because if you change the property that use the insurance, you.