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Mortgage Crisis Explanation

Mortgage Crisis Explanation

This is a discussion on Mortgage Crisis Explanation within the Mortgage Know-How forums, part of the Mortgage and Loans Forum category; There is a helpful explanation of the curent bmortgage/b crisis (which underlies the credit crisis) here. "So long as the ...

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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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Mortgage Crisis Explanation

There is a helpful explanation of the curent bmortgage/b crisis (which underlies the credit crisis) here. "So long as the bmortgage/b did not default in that period of time, it could not be 'put back' to the originator. A salesman or bmortgage/b b.../b

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