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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 else can I help you with?
What means is 'mortgage value' as related real estate?
what means 'mortgage value' as the real estate property
What is and underlying mortgage?
what does it mean when the mortgage company says they must read the underlying of the mortgage? I do not quit understand what that means.
What does it mean if your name is on the deed but not the mortgage?
If your name is on the deed but not the mortgage, it means you own the property but are not responsible for the mortgage payments.
Where can one find information on what it means to refinance a second mortgage?
You can find information on what it means to refinance a 2nd mortgage from your potential mortgage lender. Alternatively you can try money blogs and forums.
What is meant when one says that there is no proof of income mortgages?
No proof of income mortgages means a Self-Certified mortgage. A Self-Certified mortgage means that you do not want to tell the mortgage underwriter your exact earnings.
What happens if the wife is on the mortgage and not on the note and the husband dies?
If the wife signed the mortgage and not the note that means that if the mortgage isn't paid the lender can take possession of the property by foreclosure. It will not affect the wife's credit but by signing the mortgage she consented to the lien on the real estate.If the wife signed the mortgage and not the note that means that if the mortgage isn't paid the lender can take possession of the property by foreclosure. It will not affect the wife's credit but by signing the mortgage she consented to the lien on the real estate.If the wife signed the mortgage and not the note that means that if the mortgage isn't paid the lender can take possession of the property by foreclosure. It will not affect the wife's credit but by signing the mortgage she consented to the lien on the real estate.If the wife signed the mortgage and not the note that means that if the mortgage isn't paid the lender can take possession of the property by foreclosure. It will not affect the wife's credit but by signing the mortgage she consented to the lien on the real estate.
What is a 2nd mortgage needed for?
A second mortgage is often needed at times when a family is running low on money. A second mortgage means a loan is taken on the home owner's house. This usually means that they will get a big loan and their home will be collateral.
What is a second trust deed taken back by owner mean?
That means the owner-seller has agreed to take a second mortgage that will be a junior lien to the primary purchase money mortgage.That means the owner-seller has agreed to take a second mortgage that will be a junior lien to the primary purchase money mortgage.That means the owner-seller has agreed to take a second mortgage that will be a junior lien to the primary purchase money mortgage.That means the owner-seller has agreed to take a second mortgage that will be a junior lien to the primary purchase money mortgage.
What does hipoteca mean?
Hipoteca means mortgage in Spanish.
What does MRI means in loan?
Mortgage Redemption Insurance
What does it mean to get a home loan?
It means you're getting a mortgage. For the definition of mortgage, see the related link below.
What is a seller held mortgage?
It means that the person from whom you bought the property is personally supplying the mortgage financing themselves. (i.e.: they are supplying the financing and not some mortgage company or bank.)
