What is it called when you loan someone money with interest when they purchase properly?

real estate business' do it, you loan money out to someone who needs funds to purchase property and they pay you back with around 12% interest rate? If they dont make the payment you take their property? What is this called,I know real estate business deals with these a lot I just cant think of what exactly they are called help!

What is it called when you loan someone money with interest when they purchase properly?

A secured loan or a mortgage.

What is it called when you loan someone money with interest when they purchase properly?

If a loan is secured by property,it's a mortgage.

Foreclosure is when you default on your payments.

Does this help any?

What is it called when you loan someone money with interest when they purchase properly?

Mortgage?

Bridging loans?

You need to explain properly.

What is it called when you loan someone money with interest when they purchase properly?

mortgage

What is it called when you loan someone money with interest when they purchase properly?

A mortgage or (a trust deed).

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