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, February 4, 2009

522 000 jobs lost in the private sector in the U.S.

The private sector has lost 522 000 off-farm jobs in January, according to a study of human resources firm ADP released Wednesday.

The extent of job losses is higher than what analysts predicted, which projected 515 000 net cuts. ADP has revised downwards its estimate of losses for the previous month to 659 000 (instead of the originally announced 693 000 – A slight improvement, but another sign that we are in a recession).

According to ADP, the services sector, which accounts for almost 85% of non-agricultural employment in the United States, has lost 279 000 jobs in January.

Employment has also declined for the 24th month in a row in the industry sector, where 243 000 were lost.

I don't know what impact this will have on home prices, but it is not good. America, it's time to wake up!

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