Collateral Mortgage???

[Alex Arroyo]

Hello everyone,

I posted this up on another forum and got no reply so I'm gonna try on this one. 

My question today is what is a collateral Mortgage? As I was doing my homework in checking if ther are any lien on a property, I came across this? I'm assumming that it's a loan that they took out and put the property as collateral? Am I correct? My next question would be how do I go about finding out if the loan was saticfied or is still owed? Any imput would be greatly appreciated, Thanks!!