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Comment on Manulife ONE Mortgage Review by DAvid

Comment on Manulife ONE Mortgage Review by DAvid

This is a discussion on Comment on Manulife ONE Mortgage Review by DAvid within the Mortgage Know-How forums, part of the Mortgage and Loans Forum category; The simple step of putting the $10000 on your mortgage , while having your Credit Line available to use if ...

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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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02-25-2008, 01:40 AM

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Comment on Manulife ONE Mortgage Review by DAvid

The simple step of putting the $10000 on your mortgage, while having your Credit Line available to use if needed accomplishes the same goal, but potentially at a lower interest cost. ...

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