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Some Reverse Mortgage Changes To Take Place October 1st, 2008

Some Reverse Mortgage Changes To Take Place October 1st, 2008

This is a discussion on Some Reverse Mortgage Changes To Take Place October 1st, 2008 within the Mortgage Know-How forums, part of the Mortgage and Loans Forum category; According to a Washington Post article published today, some of the amendments included in the recently passed Housing and Economic ...

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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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08-11-2008, 12:56 AM

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Some Reverse Mortgage Changes To Take Place October 1st, 2008

According to a Washington Post article published today, some of the amendments included in the recently passed Housing and Economic Recovery Act of 2008, that pertain to reverse mortgages will take place in October. ...

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