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Salt Lake City Mortgage Market Update for November 26, 2008 « Salt

Salt Lake City Mortgage Market Update for November 26, 2008 « Salt

This is a discussion on Salt Lake City Mortgage Market Update for November 26, 2008 « Salt within the Mortgage Know-How forums, part of the Mortgage and Loans Forum category; In fact, nearly half of all sub-prime bmortgages/b in default are on non-owner occupied homes. Sub-prime loans were used by ...

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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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12-01-2008, 08:33 PM

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Salt Lake City Mortgage Market Update for November 26, 2008 « Salt ...

In fact, nearly half of all sub-prime bmortgages/b in default are on non-owner occupied homes. Sub-prime loans were used by amateur investors because of the more liberal underwriting guidelines and because they could get 100% financing. b.../b

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