Surreal Mortgages

A mortgage has two parts, according to Wikipedia:

1. A pledge (the mortgage itself).

2. The promissory note. Basically, evidence that you promise to pay a debt.

Mortgages let you buy property “without paying the full value upfront,” according to Wikipedia.

Without mortgages, property would be much too expensive for anyone but the extemely wealthy to buy. With mortgages, anyone can buy property, as long as they are approved by the mortgage lender.

Approval is another story, however.