A hanger hinge for a folding door, window or similar closure having one or more panels, the hanger hinge comprising: A hanger bolt having a receiving portion in a lower end thereof adapted to receive at least a portion of an adjusting tool; A sleeve adapted to be supported on the lower end of the hanger bolt; At least one hinge leaf pivotally mounted on the hanger bolt and adapted to be fixed to a respective panel; and A locking mechanism comprising a locking member movable axially between a locked condition in which the locking member is engaged with the sleeve in a manner to substantially preclude rotation of the hanger bolt relative to the sleeve, and an unlocked condition in which the locking member is disengaged from the sleeve by axial insertion of the adjusting tool into the receiving portion, thereby freeing the hanger bolt for rotation relative to the sleeve.