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Moveme.com, the place to find mortgages and removalThis is a discussion on Moveme.com, the place to find mortgages and removal within the Mortgage Know-How forums, part of the Mortgage and Loans Forum category; A mortgage is a term pledging property to a lender as a security for a mortgage loan. Mortgage is not ... |
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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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09-24-2008, 02:38 PM
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Moveme.com, the place to find mortgages and removal
A mortgage is a term pledging property to a lender as a security for a mortgage loan. Mortgage is not a debt/loan, but it is evidence of a debt/loan. In other explanation, mortgage is what lender makes to borrower, the security of the ...
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