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adalinaabella
Joined: 29 Nov 2012
Posts: 65
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 Posted: Wed Dec 26, 2012 5:12 am Post subject: What is Mortgage? |
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A house mortgage is an contract to provide up an interest in something if you fall short to perform some duty. In many cases, it means that you'll quit your house if you fall short to repay your house mortgage loan as agreed. You can use house mortgage as a verb, meaning "to pledge".
Mortgage and "home loan" are often used interchangeably. However, the property mortgage is really the contract that makes your house mortgage loan work -- the bank wouldn't lend you tens of a large amount unless they knew they could claim your house in the event of your default.
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HeavenDoor
Joined: 28 Mar 2013
Posts: 2
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| Posted: Thu Mar 28, 2013 6:34 am Post subject: |
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Mortgage is a loan to finance the purchase of real estate, usually with specified payment periods and interest rates.
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