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How the Mortgage Foreclosure Process worksThis is a discussion on How the Mortgage Foreclosure Process works within the Mortgage Know-How forums, part of the Mortgage and Loans Forum category; Some people get the mortgage foreclosure process and the tax foreclosure process mixed up. The mortgage foreclosure process is more ... |
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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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10-01-2008, 12:25 PM
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How the Mortgage Foreclosure Process works
Some people get the mortgage foreclosure process and the tax foreclosure process mixed up. The mortgage foreclosure process is more common and it happens all year round whereas the tax foreclosure process is usually once a year. ...
More... (Source: Google Blog Search) 
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| foreclosure, mortgage, process, works |
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