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HUD Chief: McCain’s Mortgage Plan Sucks

HUD Chief: McCain’s Mortgage Plan Sucks

This is a discussion on HUD Chief: McCain’s Mortgage Plan Sucks within the Mortgage Know-How forums, part of the Mortgage and Loans Forum category; McCain’s plan to buy up bad bmortgages/b evidently sucks so bad, the current Housing and Urban Development Manager thinks it’sa ...

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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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10-22-2008, 01:37 PM

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HUD Chief: McCain’s Mortgage Plan Sucks

McCain’s plan to buy up bad bmortgages/b evidently sucks so bad, the current Housing and Urban Development Manager thinks it’sa bad idea. I know what you’re thinking - “John, isn’t the whole Federal bailout plan to buy up bad bmortgages/b? b.../b

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chief, hud, mccain’s, mortgage, plan, sucks

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