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, December 3, 2008

Tough November for the private sector in the U.S.

The deterioration of the market continues to accelerate in the U.S., where the private sector has lost (destroyed!!) 250 000 jobs in November, according to a study made by the human resources firm ADP, released Wednesday.

The decline was much greater than analysts predicted, which was 200 000 job cuts.

ADP nevertheless says that his study does not take into account the impact of the return to work of 27 000 workers mechanics of the aircraft manufacturer Boeing, after an agreement ended their strike at the end of October.

The November survey "provides proof that the weakening labor market continues," says ADP.

The firm has revised its estimate of the number of destroyed jobs in the private sector in October to 179 000 (instead of the originally announced 157 000).

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