Then if you fail to pay on the mortgage--pay off the debt -the lender can seize the property and sell it.

然而如果你无法偿还贷款,贷方可以没收这项财产并出售

耶鲁公开课 - 金融市场课程节选

It consists of a promise to pay, usually denominated in currency, and there are both long-term and short-term debt instruments.

是一种付款承诺,通常是货币支付形式,有长期债券,以及短期债券

耶鲁公开课 - 金融市场课程节选