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The lender can foreclose the mortgage and sell the house to recoup its losses. You would lose the house. Your credit rating will plummet.
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∙ 13y ago
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What is the difference between mortgage and pledge?
The differences between a mortgage and a pledge:1. The Security in Mortgaged is an immovable property, while in a pledge it is a movable property.2. In a pledge the ownership of the pledged property remains with the debtor (the pledgor or borrower). In a mortgage, the ownership of the mortgaged property is transfered to the creditor (banker or mortgagee).3. Delivery of the property is essential to a pledge; hence the goods delivered by the pledgor or borrower will be in the custody of the banker. But, in a mortgage, the possession of the property will be with the borrower.4. In a pledge, the banker (pledgee) can sell the pledged property without the intervention of the Court. In a mortgage, except in English mortgage, a mortgagee can sell the property only with the permission of the Court.5. A pledgee does not have the right of foreclousure (i.e. cannot debar the pledgor or the borrower from taking or redeeming the pledged property). But, in a mortgage, a mortgagee (borrower) has the right of foreclousre, i.e., can debar the borrower from taking back the mortgaged property under certain circumstances.M.J.SUBRAMANYAM, XCHANGING, BANGALORE
Why would a person be trying to find a reverse mortgage lender?
Someone might be looking for a reverse mortgage because the loan doesn't usually need to be paid back until the borrower dies or moves out of their home.
Which type of interest is most often used for longer term loans or in situation where the borrower doesnt know when he or she will pay back or at what rate?
compound
How do you back a real estate mortgage?
The collateral for a real estate mortgage is the real estate itself. If the borrower defaults the lender can take possession of the real estate.
What question should be asked during mortgage loan interview?
The main question that should be asked during mortgage loan interview is how the borrower plans to repay. A person who has no job or other steady source of income will not be able to pay the mortgage back and is not a good loan risk.
How do you back a real estate mortgage?
The collateral for a real estate mortgage is the real estate itself. If the borrower defaults the lender can take possession of the real estate.
In the context of finance what is the definition of a mortgage?
In the context of finance, the term mortgage refers to an instrument of debt that is secured as collateral of a specified real estate property that the borrower must pay back.
What is the difference between mortgage and pledge?
The differences between a mortgage and a pledge:1. The Security in Mortgaged is an immovable property, while in a pledge it is a movable property.2. In a pledge the ownership of the pledged property remains with the debtor (the pledgor or borrower). In a mortgage, the ownership of the mortgaged property is transfered to the creditor (banker or mortgagee).3. Delivery of the property is essential to a pledge; hence the goods delivered by the pledgor or borrower will be in the custody of the banker. But, in a mortgage, the possession of the property will be with the borrower.4. In a pledge, the banker (pledgee) can sell the pledged property without the intervention of the Court. In a mortgage, except in English mortgage, a mortgagee can sell the property only with the permission of the Court.5. A pledgee does not have the right of foreclousure (i.e. cannot debar the pledgor or the borrower from taking or redeeming the pledged property). But, in a mortgage, a mortgagee (borrower) has the right of foreclousre, i.e., can debar the borrower from taking back the mortgaged property under certain circumstances.M.J.SUBRAMANYAM, XCHANGING, BANGALORE
What happens to the borrower if they cannot pay back the financial intermediary that lends those funds?
Help?
Why would a person be trying to find a reverse mortgage lender?
Someone might be looking for a reverse mortgage because the loan doesn't usually need to be paid back until the borrower dies or moves out of their home.
Which type of interest is most often used for longer term loans or in situation where the borrower doesnt know when he or she will pay back or at what rate?
compound
What question should be asked during mortgage loan interview?
The main question that should be asked during mortgage loan interview is how the borrower plans to repay. A person who has no job or other steady source of income will not be able to pay the mortgage back and is not a good loan risk.
What happens to the disappearing girl in Pokemon black?
she doesnt come back
What does mortgage?
A mortgage or mortgage loan uses real-estate or personal property as collateral to guarantee a repayment of a loan. A mortgage is a debt instrument, secured by the collateral of specified real estate property, that the borrower is obliged to pay back with a predetermined set of payments. Mortgages are used by individuals and businesses to make large real estate purchases without paying the entire value of the purchase up front. Over a period of many years, the borrower repays the loan, plus interest, until he/she eventually owns the property free and clear. Mortgages are also known as "liens against property" or "claims on the property." If the borrower stops paying the mortgage, the bank can foreclose.
What mortgage means?
A mortgage or mortgage loan uses real-estate or personal property as collateral to guarantee a repayment of a loan. A mortgage is a debt instrument, secured by the collateral of specified real estate property, that the borrower is obliged to pay back with a predetermined set of payments. Mortgages are used by individuals and businesses to make large real estate purchases without paying the entire value of the purchase up front. Over a period of many years, the borrower repays the loan, plus interest, until he/she eventually owns the property free and clear. Mortgages are also known as "liens against property" or "claims on the property." If the borrower stops paying the mortgage, the bank can foreclose.
What does mortgage mean?
A mortgage or mortgage loan uses real-estate or personal property as collateral to guarantee a repayment of a loan. A mortgage is a debt instrument, secured by the collateral of specified real estate property, that the borrower is obliged to pay back with a predetermined set of payments. Mortgages are used by individuals and businesses to make large real estate purchases without paying the entire value of the purchase up front. Over a period of many years, the borrower repays the loan, plus interest, until he/she eventually owns the property free and clear. Mortgages are also known as "liens against property" or "claims on the property." If the borrower stops paying the mortgage, the bank can foreclose.
What is a pledge asset?
An asset that a borrower transfers to the possession of a lender as collateral for a loan. The borrower maintains ownership and all associated rights of the pledged asset. When the loan is repaid, the lender transfers possession back to the borrower. The pledged asset reduces the risk to the lender that the borrower will default, therefore possibly qualifying the borrower for some benefit, such as a lower interest rate. When buying a house, some mortgage borrowers will pledge an asset, such as stock, to the lend
