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Colorado Springs Homes: More Than 9 Percent of US Mortgages are ...This is a discussion on Colorado Springs Homes: More Than 9 Percent of US Mortgages are ... within the Mortgage Know-How forums, part of the Mortgage and Loans Forum category; According to a recent HousingWire.com article, "More than nine percent of US mortgages were delinquent or in foreclosure at the ... |
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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, 07:45 PM
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Colorado Springs Homes: More Than 9 Percent of US Mortgages are ...
According to a recent HousingWire.com article, "More than nine percent of US mortgages were delinquent or in foreclosure at the end of the second quarter, as both major categories of borrower default activity hit new records, ...
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