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Mortgage Foreclosure Process - What is It?

Mortgage Foreclosure Process - What is It?

This is a discussion on Mortgage Foreclosure Process - What is It? within the Mortgage Know-How forums, part of the Mortgage and Loans Forum category; Mortgage Foreclosure Process - What is It? Mortgage foreclosure is an official, legal process wherein a person, a group, or ...

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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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11-25-2008, 07:53 AM

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Mortgage Foreclosure Process - What is It?

Mortgage Foreclosure Process - What is It? Mortgage foreclosure is an official, legal process wherein a person, a group, or a company owes money to a lender and can't pay. In which case, the lender would force the sale of a real estate b.../b

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