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Comment on Double mortgage deductability! Good idea? by greg

Comment on Double mortgage deductability! Good idea? by greg

This is a discussion on Comment on Double mortgage deductability! Good idea? by greg within the Mortgage Know-How forums, part of the Mortgage and Loans Forum category; I like the idea with the added feature that it reduces by 10-20 percent each year till it gets to ...

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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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11-18-2008, 07:01 PM

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Comment on Double mortgage deductability! Good idea? by greg

I like the idea with the added feature that it reduces by 10-20 percent each year till it gets to zero. This way it could help stabilize the situation but long term it shows people that debt is not going to help them.

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