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, July 3, 2009

U.S. unemployment rises to 9.5%

The destruction of jobs has accelerated sharply in the United States, where 467,000 jobs were lost in June, raising the unemployment rate to 9.5%, according to figures adjusted seasonally published Thursday by the U.S. Department of Labor.

This net increase in redundancies, after two months of decline, is stronger than analysts predicted, which projected 365,000 jobs destroyed for the month of June.

Rising unemployment is however slightly lower than their expectations (9.6%).

Revisions cumulated figures of the Ministry for the last two months is minimal.

Since the beginning of the recession in December 2007, job losses have reached 6.5 million and the unemployment rate increased 4.6 percentage points, "wrote the Ministry to recall the extent of the crisis.

The destruction of jobs have affected all sectors of the economy, with the exception of the education sector and health services, and the "other services" (essentially the dye), which created a total 43,000 jobs.

The number of jobs has sacrificed more than doubled in the services sector, employing more than 85% of the workforce non-farm, to reach 244,000.

It increased by more than 8% in the industry, affected more than two years.

Ministry figures come a week after the Monetary Policy Committee of the U.S. central bank (Fed) had warned that the economy was far from out of trouble despite signs of stabilization and it shows prospect of a recovery in the second half.

The number of unemployed in the United States reached 14.7 million, according to the official ministry. He has more than doubled since the start of the recession.

In addition, nearly 6.4 million people claiming a desire to find a job but not counted in the labor force for various reasons.

The number of long-term unemployed (27 weeks or more) continues to increase and reached 4.4 million.

According to the ministry, nine million people are forced to work part-time option because of economic conditions.