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Great Ontario Mortgage BrokersThis is a discussion on Great Ontario Mortgage Brokers within the Mortgage Know-How forums, part of the Mortgage and Loans Forum category; Your mortgage broker will help make the application process more smooth & not so scary. Plus you broker will be ... |
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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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Your mortgage broker will help make the application process more smooth & not so scary. Plus you broker will be able to educate you about your responsibilities concerning your loan & payments, the interest rate & all other aspects of ...
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