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Mortgage By Demise
Mortgage By Demise
A mortgage is nothing but the transfer of interest in property to the lender till the mortgage terms are fulfilled completely. This means that the ...
Mortgage Loans
Home Equity Loans: A “Secure” Option
A home equity loan, as the name itself suggests, also known as HEL, is one in which the borrower uses the equity in his or ...
Mortgage Repossession Vs Foreclosure
Mortgage repossession, in the UK, is the repossession of a dwelling or home by a mortgagee due to default on the part of the mortgagor. The procedure of Mortgage repossession usually entails an order of possession in the courts and then an eviction notice. Once ...
Asset Based Lending: Utilizing Equity
Asset based lending is simply the taking out of a loan where the collateral is an asset and can be foreclosed or taken possession of by the lender if the borrower defaults on his or her payments. Although a mortgage is an example of asset ...
Closed-End Mortgages: The Downside
Closed end mortgages are those that do not permit the mortgagor to make a pre-payment or pay off the loan in full before the maturity of the contract. Unlike open-end mortgages which allow the mortgagor or borrower to pay off the owed amount in full ...
Chapter 13 Bankruptcy
Chapter 13, Title 11, United States Code or simply referred to as chapter 13 is a type of bankruptcy that helps in reorganizing the debt. This differs from chapter 7 in that it does not discharge some of the debts which ...
Home Mortgage Disclosure Act, 1975
The Home Mortgage Disclosure Act (HMDA) was passed in 1975 in order to mitigate discriminatory practices in the mortgage market based on gender or race. Furthermore, this act also helps in stemming the trend of redlining in which certain geographical locations are discriminated against because ...
Endowment Mortgage: The Dinosaur
As the name itself suggests an endowment mortgage is one in which an endowment policy is taken out with the mortgage so that when the endowment policy matures, the outstanding mortgage amount can be repaid. Such types of mortgages are interest only mortgages which means ...
Freddie Mac: Need and Greed
The Federal Home Loan Mortgage Corporation or Freddie Mac as it is called is a government backed enterprise in the United States. The main function of Freddie Mac is to deal in the secondary mortgage market by offering mortgage backed securities to investors in the ...
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