Difference between revisions of "Mortgage"
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*[http://research.lawyers.com/glossary/ Glossary of Legal Terms] | *[http://research.lawyers.com/glossary/ Glossary of Legal Terms] | ||
*[http://www.myvakil.com/search/Faq.asp?FaqId=18 What is Hypothecation?] | *[http://www.myvakil.com/search/Faq.asp?FaqId=18 What is Hypothecation?] | ||
| − | + | *[http://www.lender411.com Lowest Mortgage Rates] | |
Revision as of 20:58, May 19, 2010
A mortgage is granting of a lien on real property, such as a home, by a debtor (borrower) to his creditor (lender), such that the property is security for the repayment on a loan. Once the loan is paid, the mortgage should be discharged.
Hypothecation refers to the right that a creditor has to liquidate goods, securities, or other assets, if you fail to service a loan.
A sub-prime mortgage is one where the credit-worthiness of the borrower or his ability to repay the loan is questionable.