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.

Thursday, February 7, 2008

Wal-Mart's sales growth is down

U.S. retailers will probably report their slowest monthly sales growth in five years, which would further reinforce fears that American consumers are slowing down under the weight of a sluggish economy.

The world’s leader, Wal-Mart Stores Inc., reported a big slowdown in its January same-store sales, or sales at stores open for at least a year.

Wal-Mart partly blamed its slower sales on poor gift card redemptions, but not everyone believes that explanation.

Ken Perkins of the firm Retail Metrics: "Wal-Mart's not a top destination for gift card redemptions. I think its results show that its core low-income shoppers and now the middle-class households who shop there are scaling back."

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