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Congress Passes Massive Mortgage Bailout Bill

Congress Passes Massive Mortgage Bailout Bill

This is a discussion on Congress Passes Massive Mortgage Bailout Bill within the Mortgage Know-How forums, part of the Mortgage and Loans Forum category; The bill, which President Bush has pledged to sign promptly, would give hundreds of thousands of qualified borrowers a chance ...

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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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07-29-2008, 01:55 AM

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Congress Passes Massive Mortgage Bailout Bill

The bill, which President Bush has pledged to sign promptly, would give hundreds of thousands of qualified borrowers a chance to refinance with government-backed mortgages. It also will throw a financial lifeline to Fannie Mae and ...

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