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Sub-prime borrowers face another sharp rise in mortgage payments

Sub-prime borrowers face another sharp rise in mortgage payments

This is a discussion on Sub-prime borrowers face another sharp rise in mortgage payments within the Mortgage Know-How forums, part of the Mortgage and Loans Forum category; "Sub-prime mortgage holders are yet to feel the full force of the credit crunch, after a survey revealed that their ...

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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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08-29-2008, 06:49 PM

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Sub-prime borrowers face another sharp rise in mortgage payments

"Sub-prime mortgage holders are yet to feel the full force of the credit crunch, after a survey revealed that their repayment rates had risen by 2.55 percentage points this year."

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(Source: Google Blog Search)

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borrowers, face, mortgage, payments, rise, sharp, subprime

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