A blanket mortgage consolidates multiple properties under a single loan. This means that several pieces of real estate can be covered by one mortgage, providing convenience and potential cost savings for property owners. While the properties are held together as collateral, individual pieces can be sold without requiring the entire mortgage to be paid off. This type of mortgage is popular among developers, real estate investors, and those involved in property flipping. One advantage of a blanket mortgage is the ability for borrowers to maintain more liquidity, as it reduces the expenses associated with applying for and closing multiple loans. However, it's important to note that blanket mortgages typically come with higher average costs compared to traditional mortgages, which can be a potential drawback.