A mortgage loan or, simply, mortgage () is used either by purchasers of real property to raise funds to buy real estate, or alternatively by existing property owners to raise funds for any purpose, while putting a lien on the property being mortgaged. The loan is "secured" on the borrower's property through a process known as mortgage origination. This means that a legal mechanism is put into place which allows the lender to take possession and sell the secured property ("foreclosure" or "repossession") to pay off the loan in the event the borrower defaults on the loan or otherwise fails to abide by its terms. The word mortgage is derived from a Law French term used in Britain in the Middle Ages meaning "death pledge" and refers to the pledge ending (dying) when either the obligation is fulfilled or the property is taken through foreclosure. A mortgage can also be described as "a borrower giving consideration in the form of a collateral for a benefit (loan)".
Mortgage borrowers can be individuals mortgaging their home or they can be businesses mortgaging commercial property (for example, their own business premises, residential property let to tenants, or an investment portfolio). The lender will typically be a financial institution, such as a bank, credit union or building society, depending on the country concerned, and the loan arrangements can be made either directly or indirectly through intermediaries. Features of mortgage loans such as the size of the loan, maturity of the loan, interest rate, method of paying off the loan, and other characteristics can vary considerably. The lender's rights over the secured property take priority over the borrower's other creditors, which means that if the borrower becomes bankrupt or insolvent, the other creditors will only be repaid the debts owed to them from a sale of the secured property if the mortgage lender is repaid in full first.
In many jurisdictions, it is normal for home purchases to be funded by a mortgage loan. Few individuals have enough savings or liquid funds to enable them to purchase property outright. In countries where the demand for home ownership is highest, strong domestic markets for mortgages have developed. Mortgages can either be funded through the banking sector (that is, through short-term deposits) or through the capital markets through a process called "securitization", which converts pools of mortgages into fungible bonds that can be sold to investors in small denominations.
List of Pinterest Mortgage images & Mortgage pictures
List of all Pinterest Mortgage images and pictures. Browse Pinterest Mortgage ideas
3 Best Advantages Of Solar Operated Gates » Residence Style
There are various advantages associated with choosing a solar operated gate for your property. 1. Lower Operational Cost A solar operated gate opener is a much cheaper option when you consider the operating costs. The gate opener is powered by solar energy to generate power for opening and closing the gate. Therefore, you have a …
7 Reasons Why You Should Refinance Your Mortgage And Save!
It makes sense to refinance your mortgage if you save money. Learn the 7 important reasons why you should look into refinancing your mortgage. It can save you $10,000+ in interest costs. Learn details here. #DIYHomeSeller #HomeOwners #HomeSellingStrategies #HomeSellingTips #Mortgage #MortgageTips #MortgageCalculator
4 Mistakes Millennials Make When Buying a House - GrowthRapidly
If you're a millennial looking to buy your first home, avoid these first time home buyer mistakes. New homeowner, first time home buyer tips, buying a house first time, what to look for when buying a home. #millennials #buyingahouse #homeowner #loan #mortgage #home
Discover how much house you can afford according to Dave Ramsey and see his other important rules of thumb for managing your finances.
Useful financial rules of thumb from Dave Ramsey. CLICK THROUGH to learn more budget tips | budget for beginners | how to budget your money | living on a budget | budget ideas | debt free | debt snowball | debt payoff strategies | get out of debt fast | #money #personalfinance #daveramsey #moneymanagement #budgeting #debt #savingmoney
Great resource on how to buy a home when self employed. This guide on qualifying for a mortgage when self employed provides you with the best self employed mortgage options and loans that will help you verify your income. #realestate #realestatetips #buyingahome #homebuying #homebuyingtips #mortgage #loan #moneytips #selfemployed
Payoff Mortgage Early Or Invest - The Complete Guide
Not sure if you should choose paying off your mortgage or investing for financial freedom? The choice isn't as clear-cut as you might think. This is a complete guide to help you decide between becoming debt free or investing your money to build wealth.
Best Ways to Avoid Mortgage Delays — Seiler Home Group
Mortgage delays can cause your soon to be home to not be your home. Making sure that you’re prepared for the mortgage loan journey is the best way to help keep delays at bay. Read our tips and tricks to avoid additional delays for your mortgage.
Elise Franck on Instagram: “Parce qu'une deco réussie est une deco soignée et qui va dans les moindres détails 😉 Superbe lot en bois signé @hopeinthewoods • www.elise-…”
Parce qu'une deco réussie est une deco soignée et qui va dans les moindres détails Superbe lot en bois signé @hopeinthewoods Shared by @myrtleandrum www.elise-franck.com #elisefranck #elisefranckconseil #design #meuble #deco #decoration #investissementloc
Elise Franck on Instagram: “😍 Une vraie claque visuelle 😍 C’est une révélation graphique que nous propose ici @matthew.mccormick, qui joue avec les contrastes de…”
Une vraie claque visuelle Cest une révélation graphique que nous propose ici @matthew.mccormick qui joue avec les contrastes de matériaux de lumières de formes et de couleurs... Bref un gros coup de cœur ! www.elise-franck.com #elisefranck #elisefranckconseil #design #meuble #deco #decoration #investissementlocatif #investissementlocatifmeublé #immobilier #paris #investinparis #joy #opportunity #realestate #placement #argent #money #independent #reality #france #property #invest #mortgage #b