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Know Where You Stand With a 2nd Mortgage Foreclosure Tips and Answers

Know Where You Stand With a 2nd Mortgage Foreclosure Tips and Answers

This is a discussion on Know Where You Stand With a 2nd Mortgage Foreclosure Tips and Answers within the Mortgage Know-How forums, part of the Mortgage and Loans Forum category; People get second bmortgages/b for different reasons. They may have excess debt they want to pay off or they may ...

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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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12-04-2008, 10:54 AM

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Know Where You Stand With a 2nd Mortgage Foreclosure Tips and Answers

People get second bmortgages/b for different reasons. They may have excess debt they want to pay off or they may need the money to catch up on their first bmortgage/b. Perhaps they are using the money for remodeling or to take a long-awaited b.../b

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2nd, answers, foreclosure, mortgage, stand, tips

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