Mortgage, loan and property. What is a mortgage?

A mortgage is putting a property as a guarantee to a lender as a security for a mortgage loan.

While a mortgage in itself is not a liability or a dept, it is evidence of a debt. It is a transfer of an interest in property, from the owner to the mortgage lender, on the condition that this interest will be returned to the owner of the property when the terms of the mortgage have been satisfied or concluded.

In other words, the mortgage is a guarantee for the loan that the lender makes to the borrower. In all but a very few states, a mortgage creates a lien on the title to the mortgaged property.

Wednesday, February 6, 2008

Productivity and Recession

Productivity Slowed in 4th Quarter
U.S. productivity decelerated at the end of 2007 along with the economy, yet its 1.8% climb was much higher than expected, while unit labor costs went...

Recession Fears Intensify
Service-sector activity in January fell to its lowest level since 2001, suggesting businesses from hotels and retailers to banks are now contracting. ...

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