The term mortgage extension is an impropriety. Indeed, the extension applies to the mortgage loan and not to the mortgage.
There is significant confusion between mortgage and mortgage which comes from the translation of mortgage which in English designates both a mortgage and a mortgage loan. Mortgage is a legal term designating a security interest in immovable property while mortgage is a finance term which designates a sum of money loaned for the acquisition of real estate, together with a mortgage.
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