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Ought to the one that obtains the mortgage fail to pay off the loan as prescribed within the mortgage contract, the lender will take title and possession to the property. Medallion Assured: A way of authenticating the identiy of a person signing a doc, much like, however of a higher stage than, a notary public. Maturity: 1. The end of the time interval agreed upon for a loan or obligation, after which period the mortgage or obligation is due and should be paid.