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.

Friday, June 12, 2009

U.S. consumers still confident

The index of U.S. consumer confidence measured by the University of Michigan rose in June for the fourth month in succession, but a little less than expected by analysts, according to a preliminary estimate published Friday.

The index stood at 69.0 points against 67.8 points in May. Analysts were waiting to 69.5 points.

It is at its highest level since the low peak since the financial crisis of autumn (70.3 points in September 2008).

The final figures for the month of June will be released on June 26.

More to come later...

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