The term subject to mortgage is often used to indicate a situation in which real estate is transferred or assigned to someone other than the party who holds the mortgage. In such a situation, the buyer of the property begins to pay the interest and principal payments on the property. He ...
The word "Mortgage" originated from the French word "Mort-Gage," which means "Dead Pledge." In medieval times, Crusaders used this type of loan to finance their journeys to the Holy Land. If the Crusaders did not return, the lender would keep the property, hence the term "dead pledge....
What Does Fixed vs. Variable Mean on a Mortgage? Many mortgages carry a fixed interest rate. This means that the rate will not change for the entire term of the mortgage—typically 15 or 30 years—even if interest rates rise or fall in the future. A variable- or adjustable-rate mortgage...
Whether it is a person, a company, or aninvestmentthat is being vetted, the process gets deeper, and potentially more intrusive, from this point on.Credit historychecks, criminal background checks, and personal interviews with past and current associates are all fair game in the vetting process...
When it comes down to it, a mortgage point is just a fancy way of saying apercentage pointof the loan amount. Essentially, when amortgage brokeror mortgage lender says they’re charging you one point, they simply mean 1% of your loan amount, whatever that might be. ...
What the New Mortgage Rules Mean for Youdoi:urn:uuid:3ddc416bd852c310VgnVCM100000d7c1a8c0RCRDThe verdict is still out on whether new mortgage-lending regulations will hurt the housing market's recovery or&offer enough consumer protection.Kathryn Buschman Vasel...
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A mortgage is simply the financing of a home. Like an auto loan, a mortgage allows the consumer to legally own the underlying asset (car, home). Like auto loan paperwork, mortgage paperwork allows the lender to take back or “repossess” the underlying asset (aka “collateral”) if the ...
What Does Loan-to-Value (LTV) Mean for a Mortgage? The loan-to-value (LTV) ratio is your mortgage amount expressed as a percentage of the current value of the property being bought or remortgaged. The bigger your deposit or the equity you’ve built up in your property, the lower your...
How does this whole mortgage broker thing work? Instead of going to a bank or mortgage lender for a home loan You can enlist a mortgage broker to work on your behalf They can shop your interest rate with multiple lenders at once