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Mortgage crisis imperils new affordable housing developments

Mortgage crisis imperils new affordable housing developments

This is a discussion on Mortgage crisis imperils new affordable housing developments within the Mortgage Know-How forums, part of the Mortgage and Loans Forum category; I just learned of a community development corporation which has completed an affordable housing development that it has been working ...

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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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12-02-2008, 11:58 PM

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Mortgage crisis imperils new affordable housing developments ...

I just learned of a community development corporation which has completed an affordable housing development that it has been working on for many years only to find out that bmortgage/b financing cannot be obtained to sell the units in the b.../b

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affordable, crisis, developments, housing, imperils, mortgage

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