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, April 14, 2009

Obama welcomes the very low mortgage rates

U.S. President Barack Obama praised Thursday the historically low rates of U.S. mortgage loans, saying it was good news for its citizens and the property sector, in the midst of the economic crisis.

"We are in a period where people can really take advantage of this situation," said Obama, speaking at the White House with his side of the property owners who benefited from a mortgage refinancing, and his senior advisers economic.

The average mortgage rate fixed at 30 years, especially popular, fell to 4.78%, its lowest level in history, "said the American president returned from a tour abroad. He felt that this was a credit to the "extraordinary action" of the Federal Reserve and the administration's plan to help the real estate sector.

"We are adding stages to the program" to assist property owners in difficulty, "said Obama. "We are putting in place a program to change lending by working with banks, with services that allow people about to lose their homes to consolidate their position," he said.

People in trouble can find information on the site makinghomeaffordable.com, "he said, highlighting also warned against" the artists of fraud "that offer false real estate refinancing plans by requesting a payment of money Now.

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