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Function of mortgage bank is to lend for purchasing, reclaiming land and discharging old debts. They mortgage 50% of the land. Mortgage Bank commands its capital through deposits and dealing in shares and bonds. The period of loan usually ranges between 15 to 30 years.

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11y ago

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How does one explain a mortgage?

A mortgage is a concept which can be explained simply to someone. A mortgage is essentially a loan in which the house functions as a source of collateral.


Where can you get mortgages from?

A mortgage can be acquired through lenders and banks that allows individuals to get such mortgage provided they qualify for the requirements lenders / banks are looking for people applying for a mortgage.


Where are the mortgage banks located in America?

Many banks offer mortgages and can be considered a mortgage bank. These mortgage banks such as Bank of America, can be found in any Metropolitan area and in most neighborhoods of any city in America.


What mortgage banks is good for credit scores?

There are several options available for you. I would highly recomend the following banks: PNC Bank, National City Mortgage,and USA Mortgage.


Which banks offer a mortgage for home refinance?

There are a wide variety of banks which offer a home mortgage refinance. Some banks that offer refinancing of home mortgage loans include Bank of America, Sun Trust, and Wells Fargo.


What banks allow bad credit mortgage?

Unfortunately, fewer banks will lend to someone with bad credit. Some of the major banks that advertise that they will give a mortgage to someone with bad credit include Paramount Equity and FHA Mortgage.


How can one compare the mortgage rates of different banks online?

One can visit the website of different online banks and find the mortgage rates on each bank. Then one can compare the mortgage rates of these banks. One can also find comparisons of banks in several online lists.


Why do banks prefer legal mortgage to equitable mortgage?

Equitable mortgages are legal.


Which banks offer good assistance as to how to refinance mortgages?

Banks that offer refinance mortgage assistance will provide the best education about mortgage refinancing. Real estate agencies can also assist in locating the best banks to contact about refinancing a mortgage.


What banks provide mortgage refinancing in Michigan?

Most banks provide mortgage refinancing in Michigan, especially if one has their mortgage through that bank. A few reputable banks for this purpose include: Huntington Bank, Citizens Bank, and Bank of America.


What banks offer a mortgage savings account?

Most large banks today offer mortgage savings accounts. HomeBuyer is one such bank. Other banks, such as Bank of America, Chase, and CitiBank offer mortgage savings accounts too.


Will the mortgage company offer to reduce your mortgage due to the mortgage crisis?

Some banks will - the best thing to do is call your mortgage company and see what they are offering. Banks make more money by keeping you in your house and paying your mortgage, so you may be able to refinance or renegotiate the terms of your mortgage.