You have to keep in mind that mortgages are amortizing so it means that you may have to make the repayment of your borrowed amount within a fixed tenure of time that may have been decided earlier. The tenure may depend on the financial institution that is lending you the amount and could be for 5, 10, 15 or even 2o years. Period of tenure may also depend on the payment amount and age factor. Usually in case you fail to make the payment within the given tenure then the lender may have the right to sell away your property and recover their money.
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