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California Congresswoman walked away from $578K mortgage | From...This is a discussion on California Congresswoman walked away from $578K mortgage | From... within the Mortgage Know-How forums, part of the Mortgage and Loans Forum category; 1 Comment, last updated on Wednesday May 21 by Solarman More... (Source: Topxi.com) ... |
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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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05-22-2008, 03:16 AM
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California Congresswoman walked away from $578K mortgage | From...
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