In the context of mortgages, what does "indebtedness" typically refer to?

Indebtedness in the context of mortgages specifically refers to the amount of money that a borrower owes to a lender. This encompasses both the principal, which is the original sum of money borrowed, and the interest that accrues on the outstanding loan balance over time. It is a crucial concept because it represents the total financial obligation the borrower has to the lender regarding the mortgage. Understanding indebtedness is essential for managing mortgage payments and for borrowers to comprehend their financial commitments.

The other options relate to different aspects of property or financial obligations. Future property value is concerned with what the property might be worth in the future, which can vary and isn’t directly tied to the loan. Potential taxes owed are related to tax obligations and do not reflect the mortgage debt itself. Maintenance costs concern ongoing expenses required to keep the property in good condition, unrelated to the mortgage amount owed.