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Michigan Mortgage: BORROWERS BILL OF RIGHTS « Michigan Mortgage BlogThis is a discussion on Michigan Mortgage: BORROWERS BILL OF RIGHTS « Michigan Mortgage Blog within the Mortgage Know-How forums, part of the Mortgage and Loans Forum category; This entry was posted on December 4, 2008 at 5:24 pm and is filed under First Time Home Buyer, Mortgage ... |
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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, 09:13 PM
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Michigan Mortgage: BORROWERS BILL OF RIGHTS « Michigan Mortgage Blog
This entry was posted on December 4, 2008 at 5:24 pm and is filed under First Time Home Buyer, Mortgage Disclosures. Tagged: michigan bmortgage/b, Mortgage Disclosures. You can follow any responses to this entry through the RSS 2.0 feed. b.../b
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