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 13, 2008

Retail sales helped the Stock market today

Strong report on consumer spending in January boosted the stocks. The Dow Jones industrial average and the broader Standard & Poor's 500 index both added 0.6% in the early stage of the day. The Nasdaq composite gained 1.2%.

Blue chips rallied Tuesday on reports that Warren Buffett reached out to ailing bond insurers and that major lenders came up with a plan that they say will help owners steer clear of foreclosure.

A surprisingly strong January retail sales report fired up investors Wednesday…

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