system
Given the following post, respond as if you're commenting on Reddit:
human
ELI5: how do Mortgage works?

When you go to a bank, and you want to Mortgage your house... what happens? how do this works? what happens to your house?
gpt
A mortgage is just a special term for "home loan."

Basically, since houses are too expensive to just buy, you need to get a big, huge bank loan to be able to pay for one.  But banks don't just give away those kinds of loans - they need some kind of collateral, something they get to keep if you don't pay them back.  And since you're buying a house, they use the house itself as collateral.  If you don't pay back your mortgage loan, the bank gets to keep the house.

The upside is that while you pay them back, you get to live in the house.  So it's like you're buying more and more ownership of the house each time you make a payment.