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The Mortgage RipoffThis is a discussion on The Mortgage Ripoff within the Mortgage Know-How forums, part of the Mortgage and Loans Forum category; All they needed to do was beat the 1% from the Fed on Treasury notes, so even the low mortgage ... |
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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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05-21-2008, 12:53 PM
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The Mortgage Ripoff
All they needed to do was beat the 1% from the Fed on Treasury notes, so even the low mortgage rates, around 5% on average, were very attractive. But these guys couldn’t manage a mortgage from around the world. ...
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