A mortgage payable is a debt that is backed with a security interest in property.

Name: A mortgage payable is a debt that is backed with a security interest in property.
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A mortgage payable is a type of loan that is secured by property, meaning that if the borrower defaults on the loan, the lender can take possession of the property in order to recover their losses. This makes it a type of debt that is backed by a security interest in property.

A Mortgage Payable Is a Debt That Is Backed with a Security