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ABestPost › No Closing Cost Mortgage Loans and How They Work

ABestPost › No Closing Cost Mortgage Loans and How They Work

This is a discussion on ABestPost › No Closing Cost Mortgage Loans and How They Work within the Mortgage Know-How forums, part of the Mortgage and Loans Forum category; A big hurdle to overcome before the completion of a bmortgage/b, whether first of second, is paying the closing costs. ...

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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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12-06-2008, 05:21 AM

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ABestPost › No Closing Cost Mortgage Loans and How They Work

A big hurdle to overcome before the completion of a bmortgage/b, whether first of second, is paying the closing costs. This is because it usually works out to an amount much above the expectations of the homeowner. b.../b

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