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What if you Defaulted on Your Commercial Mortgage and the BankThis is a discussion on What if you Defaulted on Your Commercial Mortgage and the Bank within the Mortgage Know-How forums, part of the Mortgage and Loans Forum category; They own The Eastland Mall in Charlotte, NC and they have a big commercial bmortgage/b on the place. Their bmortgage/b ... |
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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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12-03-2008, 05:20 AM
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What if you Defaulted on Your Commercial Mortgage and the Bank ...
They own The Eastland Mall in Charlotte, NC and they have a big commercial bmortgage/b on the place. Their bmortgage/b was due in early September but the property had declined in value to-the-point that it was worth less than Glimcher owed. b.../b
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| bank, commercial, defaulted, mortgage |
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