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.

Friday, August 22, 2008

The financial crisis continues to weigh on the U.S. economy

The financial crisis continues to weigh on the economy of USA, said Friday the president of the U.S. Federal Reserve Ben Bernanke.

Despite improvements in some markets, "the financial storm did not stop and its effects on the wider economy become apparent in the form of mitigation of economic activity and rising unemployment," he explained at a conference on the economy in Jackson (Wyoming, north-west of the USA).

He welcomed the recent decline in oil prices and raw materials, and believes that inflation will remain moderate in 2008 and 2009. Beyond, the outlook remains uncertain, he said, stressing that the U.S. central bank remains vigilant and will act "if necessary" to contain inflation.

Looks like the home crisis will be with us for a while.

2 comments:

Richard Jennings said...

I Dont know what to make of the economy but I see thousands of high paying jobs posted on employment sites like:

www.indeed.com (keyword)
www.simplyhired.com (keyword)
www.realmatch.com (matching)

Lots of $150k jobs!

Arctec said...

I have put together a list of banks that may fail and go bankrupt.

You can view it at my blog.

http://bankruptbanks.blogspot.com/