A blanket mortgage is a mortgage which covers two or more properties. The real estate is held as collateral on the mortgage, but each property may be sold individually without affecting the entire mortgage.
This is an alternative to a developer having to take out multiple mortgages for a multi-property purchase where they intend to sell properties separately. Blanket mortgages are typically taken out to cover the costs of purchasing and developing land that developers plan to subdivide into individual lots.
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