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California Congresswoman Walks Away From $578k Mortgage, Lets Her ...This is a discussion on California Congresswoman Walks Away From $578k Mortgage, Lets Her ... within the Mortgage Know-How forums, part of the Mortgage and Loans Forum category; Capitol Weekly reports that newly elected California Congresswoman Laura Richardson walked away from the mortgage on her $535000 Sacramento home, ... |
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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, 08:25 PM
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California Congresswoman Walks Away From $578k Mortgage, Lets Her ...
Capitol Weekly reports that newly elected California Congresswoman Laura Richardson walked away from the mortgage on her $535000 Sacramento home, letting the house slip into foreclosure and disrepair less than two years after she bought ...
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| $578k, california, congresswoman, mortgage, walks |
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