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Understanding Mortgages - Mortgage Basics

Understanding Mortgages - Mortgage Basics

This is a discussion on Understanding Mortgages - Mortgage Basics within the Mortgage Know-How forums, part of the Mortgage and Loans Forum category; When you want to buy a house, you will more than likely need a bmortgage/b or loan. You can acquire ...

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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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11-13-2008, 04:04 AM

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Understanding Mortgages - Mortgage Basics

When you want to buy a house, you will more than likely need a bmortgage/b or loan. You can acquire loans from either a bank or another lending agency. Mortgage loans are a common practice for people who lack the cash to buy their homes. b.../b

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