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Democratic Congresswoman Walks Away From Mortgage

Democratic Congresswoman Walks Away From Mortgage

This is a discussion on Democratic Congresswoman Walks Away From Mortgage within the Mortgage Know-How forums, part of the Mortgage and Loans Forum category; We are told that the subprime mortgage crisis and resulting increase in foreclosures are the result of dishonest mortgage brokers ...

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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, 10:56 PM

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Democratic Congresswoman Walks Away From Mortgage

We are told that the subprime mortgage crisis and resulting increase in foreclosures are the result of dishonest mortgage brokers and predatory banks. The stories you never hear about however are those similar to California ...

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