a conveyance of land or an assignment of chattels as a security for the payment of a debt or the discharge of some other obligation for which it is given. Every form of property maybe mortgaged except the salaries of public functionaries. Mortgages maybelegal,in which case they must be effe...
Under this arrangement, the profits or benefits that accrued to the holder of the property could either be applied to the discharge of the principal or taken by the creditor as a form of interest. In his Tractatus de legibus et consuetudinibus regni Angliae (1189), Ranulf de Glanville ...
2. The house was mortgaged to the bank for fifty thousand dollars. 这所房子抵押给银行借得五万元。 名词 1. The bank refused to accept any mortgage on land. 银行拒绝接受任何土地抵押。 2. He has paid off the mortgage. 他已归还抵押借款。
Money paid for a house from one's own funds at closing. The down payment will be the difference between the purchase price and mortgage amount. Due-on-sale clause Provision in a mortgage or deed of trust allowing the lender to demand immediate payment of the loan balance upon sale of the...
financing needed to purchase a house. Margin The lender’s “retail markup” on the mortgage. For example, if the index rate for an adjustable-rate mortgage is 5 percent but the lender has a 2.5 percentage-point margin, the rate the borrower will pay ...
After a home buyer secures a loan, the lender will typically protect the loan with either a Mortgage Agreement or aDeed of Trust. While these documents both place a lien on the house, which allows the lender to sell the property if the borrower can't meet the terms, not all states allo...
the Administrative Agent shall release this Mortgage and the lien hereof by proper instrument upon indefeasible payment in full in cash and discharge of all Secured Obligation sand the termination of all commitments of the Administrative Agent and the Lenders to the Borrowers thereunder (including, ...
In most cases, unemployment income cannot be used to qualify for a mortgage. If you were laid off and just started receiving unemployment, you’ll have to wait until you start a new job — or at least have an offer letter in hand — to buy a house. ...
to typical personal bankruptcy proceedings, a bankrupt is often eligible for an automatic discharge from bankruptcy at the end of 9 months from the date of the commencement of the personal bankruptcy unless the Trustee, a creditor or the Superintendent of Bankruptcy oppose the bankrupt’s discharge...
Adjustable-rate mortgages can be riskier than fixed-rate ones but may make sense if you plan to sell the house or refinance the mortgage in the near term and are able to do so. Adjustable-Rate Mortgages Adjustable-rate mortgages (ARMs)have a fixed interest rate for an initial period, such...