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First Step in Solving the Subprime Mortgage ProblemThis is a discussion on First Step in Solving the Subprime Mortgage Problem within the Mortgage Know-How forums, part of the Mortgage and Loans Forum category; The federal government would lend each participant 20% of that individual’s current mortgage , with a 15-year payback period and ... |
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| Mortgage Know-How A mortgage is the transfer of an interest in property (or the equivalent in law - a charge) to a lender as a security for a debt - usually a loan of money. While a mortgage in itself is not a debt, it is the lender's security for a debt. It is a transfer of an interest in land (or the equivalent) from the owner to the mortgage lender, on the condition that this interest will be returned to the owner when the terms of the mortgage have been satisfied or performed. In other words, the mortgage is a security for the loan that the lender makes to the borrower. |
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The federal government would lend each participant 20% of that individual’s current mortgage, with a 15-year payback period and an adjustable interest rate based on what the government pays on two-year Treasury debt (now just 1.6%). ...
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| mortgage, problem, solving, step, subprime |
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