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Mortgage News: Why You Need to Learn About Your LenderThis is a discussion on Mortgage News: Why You Need to Learn About Your Lender within the Mortgage Know-How forums, part of the Mortgage and Loans Forum category; These days, it seems as if there’sa new reason to be cautious when it comes to applying for and taking ... |
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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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09-18-2008, 02:19 AM
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Mortgage News: Why You Need to Learn About Your Lender
These days, it seems as if there’sa new reason to be cautious when it comes to applying for and taking out a mortgage each and every day. Caution should involve taking a bit of time to research the lender or broker that you’re thinking ...
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