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, May 28, 2009

Record fall in housing prices in the United States

The fall in home prices in the United States has set a new record in the first quarter, reaching 19.1% year on year, according to the Standard and Poor's / Case-Shiller released Tuesday, which measures domestic prices.

Compared to fourth quarter 2008, the drop was 7.5%. During this quarter it was 7.4% compared to the third quarter of 2008.

In the twenty largest cities of the country, the decline was also a record first quarter, reaching 18.7% in one year, and in the ten largest vities, 18.6%, said Standard and Poor's.

The drop in residential real estate market has continued at a steady pace since March, said one of the authors of the study.

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