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Toronto Debt Consolidation » Blog Archive » The mortgage mantra

Toronto Debt Consolidation » Blog Archive » The mortgage mantra

This is a discussion on Toronto Debt Consolidation » Blog Archive » The mortgage mantra within the Mortgage Know-How forums, part of the Mortgage and Loans Forum category; In the second in a series of excerpts from Financial Post personal finance columnist Jonathan Chevreau’s new book, Findependence Day, ...

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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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11-29-2008, 08:54 AM

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Toronto Debt Consolidation » Blog Archive » The mortgage mantra

In the second in a series of excerpts from Financial Post personal finance columnist Jonathan Chevreau’s new book, Findependence Day, the main characters, Jamie and Sheena, discover the power of paying down a bmortgage/b.

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