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Consumer Lawyer: Mortgage bailout

Consumer Lawyer: Mortgage bailout

This is a discussion on Consumer Lawyer: Mortgage bailout within the Mortgage Know-How forums, part of the Mortgage and Loans Forum category; There is help for the massive mortgage mess. The Federal Reserve says it's giving its New York bank the power ...

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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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07-15-2008, 01:04 AM

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Consumer Lawyer: Mortgage bailout

There is help for the massive mortgage mess. The Federal Reserve says it's giving its New York bank the power to lend money to mortgage giants Fannie Mae and Freddie Mac. Many analysts are calling this a financial crisis averted.

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bailout, consumer, lawyer, mortgage

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