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Let bankruptcy help fix bad mortgages (The Christian Science

Let bankruptcy help fix bad mortgages (The Christian Science

This is a discussion on Let bankruptcy help fix bad mortgages (The Christian Science within the Mortgage Know-How forums, part of the Mortgage and Loans Forum category; I watched a middle-aged widow lose her home recently. Her story was familiar. She owned her simple brick residence outright ...

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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, 07:15 PM

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Let bankruptcy help fix bad mortgages (The Christian Science ...

I watched a middle-aged widow lose her home recently. Her story was familiar. She owned her simple brick residence outright until four years ago, when a bmortgage/b broker stopped by and offered her a loan too good to be true.

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