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.

Monday, November 24, 2008

Unemployment claims reach a high in the U.S.

New claims for unemployment United States last week reached their highest level for 16 years.

This is evident in the figures released Thursday by the U.S. Department of Labor, a new sign of the rapid deterioration of the labor market in the country.

According to the Labor Department, new unemployment claims rose to 542 000 in seasonally adjusted data instead of 515 000-a figure that was revised downwards-the previous week.

It is much more than expected in Wall Street, which expected a figure of 505 000, according to a study by Thomson Reuters.

This is the highest figure since July 1992, according to the Department of Labor. At that time the U.S. economy was emerging from a recession.

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