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.

Tuesday, December 30, 2008

Record fall in house prices in the U.S.

Housing prices in the United States have registered a new record fall in October, falling 18% on a year, according to the S & P / Case-Shiller measuring prices in the 20 largest U.S. cities and published Tuesday.

The price index in the 10 largest cities in the country has also recorded an unprecedented decline, from 19.1% over a year.

In monthly slide, the monthly prices fell by 2.2% in 20 major cities in October, while they fell by 1.8% in September compared to August.

In the ten largest cities, prices fell by 2.1% in October compared to September, against a decrease of 1.9% a month earlier.

Compared with the peak in mid-2006, housing prices are down 23.4% for the 20 largest cities and 25.0% for the ten most important.

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