Nounmortgages
Verbmortgages
From Wiktionary under the GNU Free Documentation License. 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. This comes from the Old French "dead pledge," apparently meaning that the pledge ends (dies) either when the obligation is fulfilled or the property is taken through foreclosure. In most jurisdictions mortgages are strongly associated with loans secured on real estate rather than on other property (such as ships) and in some jurisdictions only land may be mortgaged. A mortgage is the standard method by which individuals and businesses can purchase real estate without the need to pay the full value immediately from their own resources. See mortgage loan for residential mortgage lending, and commercial mortgage for lending against commercial property. Participants and variant terminologyLegal systems in different countries, while having some concepts in common, employ different terminology. However, in general, a mortgage of property involves the following parties. From Wikipedia under the
GNU Free Documentation License How do percentage rates work on mortgages? Q. I am looking at mortgages and i don't understand how the percentage rate works. Why do I have to pay double the amount of loan if the percentage rate is 6%? Asked by Bohemian - Wed Jan 23 12:28:23 2008 - - 3 Answers - 0 Comments A. The percentage rate is the percentage you are charged on he outstanding amount of the loan *per year*. If you borrow 100,000 and pay of once per year (to simplify the calculations) you will attract 6,000 of interest. So if you pay 12,000 per year the amount remaining will drop to 94,000. The next years interest at the same interest rate will be 5640 so if you pay 12,000 again the the amount remaining will drop to 87,640. As you see it goes down quite slowly. When you get a morgage the bank will work out how much you can afford at the current interest rate over the period you want to borrow and tell you how much you can borrow to buy a house. Answered by TokyoSteve - Wed Jan 23 12:56:26 2008 What does it mean to default on a mortgage? what are subprime mortgages and how do the two relate? Q. Who are the people that are defaulting on their mortgages? which companies (industries) are involved in this? Additionally does this go on in some regions more than in others? what effects does it have on the economy and our daily lives? what can be done to prevent further morgage defaults and fix the tumbling economy? what shouldve been done earlier for this crisis to never have started? what will happen if this problem isn't fixed in the long run? Asked by nuyorkrulz9 - Sun Nov 25 17:00:31 2007 - - 5 Answers - 0 Comments A. Defaulting on a mortgage means you do not pay the mortgage for which you are a borrower. Sub-prime mortgages are to borrowers that do not qualify for a "prime" mortgage due to poor credit (this can either be a lack of a credit history or poor credit history). All groups are defaulting on mortgages; however, sub-prime borrowers make up a significant percentage of these, especially those who took out Adjustable Rate Mortgages (ARMs) over the past few years. Many of these mortgages reset earlier this year when rates were higher, resulting in substantial increases in monthly mortgage payments. Often increasing beyond the borrowers' means. This is occurring across the country, but most predominately in places like Florida, Nevada, and… [cont.] Answered by Brian F - Sun Nov 25 18:35:12 2007 Public Records Reading- Mortgages, Do home equity loans show or just reverse and second mortgages?
Q. I read public records when doing RE research so I'm wondering. I guess that only second and reverse mortgages show. And why would someone choose a second mortgage vs home equity loan? Are we saying that a home equity loan automatically shows as a lien? Asked by itsjunglepat - Sun Jun 29 07:44:13 2008 - - 3 Answers - 0 Comments A. all mortgages and liens against a property are available if you go to the court house and research the property. and usually people take second mortgages when they already have a first mortgage and a home equity loan is really a second mortgage . Answered by vi - Sun Jun 29 07:55:38 2008 From Yahoo Answer Search: "mortgages"  news.google.com The Consumerist (blog) As complaints about mortgage companies go, Chris's gripe about ING Direct isn't something that will ... news.google.com Times Online Borrowers are rushing to take out euro mortgages to profit from the weak single currency, as German growth falters and the Greek debt crisis continues to ... Euro trashed Sydney Morning Herald all 2,210 news articles » news.google.com Richmond Times Dispatch Despite wanting to invest money in mortgages , most lenders have a cautious view of the current market, so new loans for transactions are conservative. ... From Google News Search: "mortgages"  javno.com 300px x 400px | 39.50kB [source page] In a slowing economy it doesn`t take much to push an underwater mortgage into default  financial-resources.us 300px x 187px | 36.70kB [source page] HSBC has launched new five and ten year fixed rate mortgages at very competitive rates The new five year fixed rate mortgage deal is at 3 99 and the ten year mortgage is at 4 98 These mortgage rates are only available for people who are looking to borrow a maximum Loan to  citynews.ca 240px x 320px | 58.90kB [source page] digg From Yahoo Image Search: "mortgages"  monitorbankrates.com Brian ue, 16 Feb 2010 15:37:20 GM Fixed rate . mortgages. are the most popular . mortgage. product for homeowners refinancing. Regardless of whether their original . mortgage. was an adjustable . mortgage. or fixed . mortgage. the majority of people chose to refinance with a fixed ...  clublambconnection.com admin Wed, 17 Feb 2010 10:11:40 GM What is the difference between getting a home . mortgage. through a bank or through a . mortgage. company? there's no difference. They are both the same lenders.  robert-mortgagedirect2u.blogspot.com MortgageDirect2u ue, 16 Feb 2010 21:03:00 GM Lower the maximum amount Canadians can withdraw in refinancing their . mortgages. to 90 per cent from 95 per cent of the value of their homes. This will help ensure home ownership is a more effective way to save. ... From Google Blog Search: "mortgages" |
