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McCain’s Mortgage Plan a “Concern” for HUD Chief

McCain’s Mortgage Plan a “Concern” for HUD Chief

This is a discussion on McCain’s Mortgage Plan a “Concern” for HUD Chief within the Mortgage Know-How forums, part of the Mortgage and Loans Forum category; He said that asking the government to take a direct loss, rather the the financial institution, that held the loan ...

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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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10-21-2008, 11:45 AM

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McCain’s Mortgage Plan a “Concern” for HUD Chief

He said that asking the government to take a direct loss, rather the the financial institution, that held the loan was a risky proposition for bmortgage/b markets. “I don’t think we can suffer that big of a loss. b.../b

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chief, hud, mccain’s, mortgage, plan, “concern”

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