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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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Old 12-07-2008, 01:24 PM
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Have you considered investing in second bmortgages/b and earning over 12% interest rates?

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Old 11-07-2011, 04:21 AM
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Investments are no guarantee to earn big money. If you are paying high interest rate in mortgage, it's better to payoff your mortgage. If you are paying low interest rate in mortage, you may try to invest your money into others. However, if your mortgage is like 30 years loan, you are still paying a lot of interest although you interest rate is low. Don't buy into theory like it's better to invest your money than paying your house. You'd better off if you can actually calculate how much interest you paid and how much % you will probably earn in otherinvestments before you make that decision.It's a great feeling once you pay off your house though.

Last edited by christinadiaz; 11-07-2011 at 04:24 AM..
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