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Avoiding the Jumbo Mortgage Man

Avoiding the Jumbo Mortgage Man

This is a discussion on Avoiding the Jumbo Mortgage Man within the Mortgage Know-How forums, part of the Mortgage and Loans Forum category; But the thing is, the terms "jumbo mortgage " and "super jumbo mortgage " -- these are conventions of a ...

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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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09-06-2008, 04:55 AM

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Avoiding the Jumbo Mortgage Man

But the thing is, the terms "jumbo mortgage" and "super jumbo mortgage" -- these are conventions of a Wall Street-bound loan. Just because your loan size is over $417000 doesn't mean that you have be subject to the jumbo and super-jumbo ...

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