package mortgage

package mortgage definition - business

package mortgage

A mortgage that includes durable personal property such as appliances along with the real property. Package mortgages are frequently used in new developments, where appliances are included with the homes.

The American Heritage® Dictionary of Business Terms Copyright © 2009 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company. All rights reserved.

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