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Obama wants moratorium on mortgage foreclosures

Obama wants moratorium on mortgage foreclosures

This is a discussion on Obama wants moratorium on mortgage foreclosures within the Mortgage Know-How forums, part of the Mortgage and Loans Forum category; LA Times has the details. Because Obama is now the American leader, I have little doubt that Americans will soon ...

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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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10-13-2008, 08:35 PM

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Obama wants moratorium on mortgage foreclosures

LA Times has the details. Because Obama is now the American leader, I have little doubt that Americans will soon will soon get what he wants. Read the rest of this great post here.

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foreclosures, moratorium, mortgage, obama

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