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Steve Shickles » Blog Archive » Late mortgage payments andThis is a discussion on Steve Shickles » Blog Archive » Late mortgage payments and within the Mortgage Know-How forums, part of the Mortgage and Loans Forum category; Reuters - Late bmortgage/b payments and the rate of home loans in foreclosure rose to record highs in the third ... |
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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, 10:23 PM
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Steve Shickles » Blog Archive » Late mortgage payments and ...
Reuters - Late bmortgage/b payments and the rate of home loans in foreclosure rose to record highs in the third quarter, threatening to escalate as the recession erases jobs and further strains homeowners, the Mortgage Bankers Association b.../b
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