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FDIC Head: New Mortgage Plan Not Enough

FDIC Head: New Mortgage Plan Not Enough

This is a discussion on FDIC Head: New Mortgage Plan Not Enough within the Mortgage Know-How forums, part of the Mortgage and Loans Forum category; The plan announced Tuesday by federal officials and bmortgage/b giants Fannie Mae and Freddie Mac sounds sweeping in its approach: ...

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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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11-12-2008, 02:25 AM

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FDIC Head: New Mortgage Plan Not Enough

The plan announced Tuesday by federal officials and bmortgage/b giants Fannie Mae and Freddie Mac sounds sweeping in its approach: Borrowers would get reduced interest rates or longer loan terms to make their payments more affordable. b.../b

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