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Thinking of Getting Out From Under Your Mortgage

Thinking of Getting Out From Under Your Mortgage

This is a discussion on Thinking of Getting Out From Under Your Mortgage within the Mortgage Know-How forums, part of the Mortgage and Loans Forum category; With the housing market melting down, it seems an everyday thing to see people selling their homes to get free ...

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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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06-25-2008, 03:26 AM

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Thinking of Getting Out From Under Your Mortgage

With the housing market melting down, it seems an everyday thing to see people selling their homes to get free of payment they can’t afford. Ian Usher took a different approach. He is selling his whole life, home, car, motorcycle and ...

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