purchase money mortgage (PMM)
Definition
Loan agreement under which a purchaser of a property pledges it to the seller for the unpaid balance of the purchase price. This method is used commonly where the purchaser does not qualify for a bank loan.
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purchase money mortgage (PMM) is in the Banking, Commerce & Finance subject.
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http://www.businessdictionary.com/definition/purchase-money-mortgage-PMM.html







