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Loan modification program may give relief to some homeowners

Loan modification program may give relief to some homeowners

This is a discussion on Loan modification program may give relief to some homeowners within the Mortgage Know-How forums, part of the Mortgage and Loans Forum category; 1 Comment, last updated on Sunday Nov 23 by Mr X More... (Source: Topxi.com) ...

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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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11-23-2008, 04:05 PM

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Loan modification program may give relief to some homeowners

1 Comment, last updated on Sunday Nov 23 by Mr X

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(Source: Topxi.com)

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