It is a debt instrument, secured by the collateral of specified real estate property, that the borrower is obliged to pay back with a predetermined set of payments. Mortgages are used by individuals and Businesses to make large real estate purchases without paying the entire value of the purchase up front. Over a period of many years, the borrower repays the loan, plus interest, until he / she owns the property free and Eventually Clear. Mortgages are also known as "liens against property" or "claims on property." If the borrower stops paying the mortgage, the bank can foreclose.
http://www.investopedia.com/terms/m/mortgage.asp
Miyerkules, Pebrero 12, 2014
Sabado, Pebrero 8, 2014
Mortgage LA CA for the best advice and most information
There are many different kinds of loans available - Individually to many to name! Some loans are available to everyone, some target specific locations, and some are good for first-time homebuyers. The characteristics of dmg dmg each loan program are unique, so it is best to consult a professional loan and mortgage LA CA for the best advice and most information. :)
Martes, Pebrero 4, 2014
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