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, January 12, 2009

U.S.A.: another 2 million jobs are lost

Job losses in the United States will probably be lower in 2009 than in 2008, but 2 million jobs will disappear.

It is quite pessimistic prediction that the Conference Board, an independent research, this morning.

The Conference Board releases its Employment Trends Index (ETI) in December, an index that includes indicators to understand trends in employment.

The index stands at 99.6 for December, down 1.6 percentage points compared to the previous month. In one year, the index lost almost 16%.

"The sustained deterioration of the index ETI indicated that there was no turnaround expected in the short term for the labor market, said Gad Levanon, senior economist of the Conference Board.

According to the analysis of the U.S., it's been 17 months since that the ETI is falling and we can feel the decline in all its components. Especially for the hiring of temporary workers and part-time for six months.

Americans must ask themselves when bad economic news will stop.

Friday, the Labor Department announced that 2.6 million jobs were lost in 2008. This statistic is in the worst year since 1945.

Above all, 1.9 million jobs were eliminated during the last four months of the year, when the economic and financial crisis has grown.

In December, 524 000 jobs disappeared, which boosted the unemployment rate to 7.2%. This is the worst unemployment level since January 1993.

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