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Real Estate Blog - Bank of America mortgage workout program hits a

Real Estate Blog - Bank of America mortgage workout program hits a

This is a discussion on Real Estate Blog - Bank of America mortgage workout program hits a within the Mortgage Know-How forums, part of the Mortgage and Loans Forum category; Bank of America went ahead and bought the failing Countrywide earlier this year because it wanted to widen its market ...

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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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11-24-2008, 05:09 AM

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Real Estate Blog - Bank of America mortgage workout program hits a ...

Bank of America went ahead and bought the failing Countrywide earlier this year because it wanted to widen its market share in bmortgages/b and the price was so attractive. It also knew that Countrywide had a lot of bad paper in its books b.../b

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america, bank, blog, estate, hits, mortgage, program, real, workout

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