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HUD chief questions McCain#39;s mortgage plan

This is a discussion on HUD chief questions McCain#39;s mortgage plan within the Mortgage Know-How forums, part of the Mortgage and Loans Forum category; Republican presidential candidate John McCain's plan to have the government pay the difference between the balances of troubled bmortgages/b and ...


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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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Old 10-21-2008, 02:54 PM
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Default HUD chief questions McCain#39;s mortgage plan

Republican presidential candidate John McCain's plan to have the government pay the difference between the balances of troubled bmortgages/b and what homes are now worth is troubling, the secretary of Housing and Urban Development said b.../b

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