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Renters welcome: But they won’t cover your mortgage

Renters welcome: But they won’t cover your mortgage

This is a discussion on Renters welcome: But they won’t cover your mortgage within the Mortgage Know-How forums, part of the Mortgage and Loans Forum category; But even if they can find buyers, it’s doubtful they will recover anywhere near what they paid if they bought ...

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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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12-19-2007, 08:18 PM

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Renters welcome: But they won’t cover your mortgage

But even if they can find buyers, it’s doubtful they will recover anywhere near what they paid if they bought when the market was at its peak, or with adjustable-rate mortgages and other creative loan products now resetting with ...

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