Difference between revisions of "Mortgage"
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Hypothecation refers to the right that a creditor has to liquidate goods, securities, or other [[assets]], if you fail to service a loan. | 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 | + | A '''[[sub-prime mortgage]]''' is one where the borrower has a demonstrated inability to abide by the terms of a credit obligation. |
== See also == | == See also == | ||
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*[[Glossary of Budget Terms]] | *[[Glossary of Budget Terms]] | ||
*[[Accounting]] | *[[Accounting]] | ||
| + | *[[Mortgage insurance]] | ||
*[[Free Enterprise]] | *[[Free Enterprise]] | ||
Revision as of 19:10, March 22, 2013
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 borrower has a demonstrated inability to abide by the terms of a credit obligation.
See also
- Financial Crisis of 2008
- Recession of 2008
- Glossary of Budget Terms
- Accounting
- Mortgage insurance
- Free Enterprise