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.

Thursday, March 19, 2009

U.S.: unemployment registration is down

Some 646 000 people registered as unemployed last week in the United States, a figure lower than expected. But the total number of unemployed continued to rise for the eighth consecutive week, rising to 5.47 million.

In seasonally adjusted, the United States last week had 646 000 registered unemployed, as against 658 000 the previous week, according to figures announced Thursday by the Treasury Department.

But the total number of unemployed increased by 185 000 persons during the last week, reaching 5.47 million in seasonally adjusted. This is a new record, while analysts projected 5.33 million unemployed.

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