What is the meaning of the word mortgage?
I believe Mort is a French word meaning "death" and gage means "pledge or agreement" So the meaning of the work Mortgage is an "agreement till death."
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Answer . you have two options when you need to pull out money from your property.. 1.) cash-out refi- where you pay off the current mortgage and take additional cash with… it.. 2.) leave the current mortgage alone and taking a second mortgage out for the cash. Second mortgage all so means it is in second place behind the first mortgage
In general, there are two types of mortgage loans: (1) Conventional; and (2) Jumbo. Conventional loans are for no more than a certain amount (for example, $400,000). Jumbo loa…ns are loans in greater amounts. Check with a mortgage broker in your area to find the dividing line. Typically, a Jumbo loan will have higher interest rates, due to the bigger risk involved. In addition, people with lower credit scores may have more difficulty qualifying for a Jumbo loan. Loan amounts greater than the conforming loan amount limit of $417,000, so $417,001
No. A mortgage is a form of loan to buy a house. As with any form of loan, if you can't keep up the payments, your bank/building society can reposess the house.
The word 'mortgage' comes into Middle English by way of Middle and Old French. All three words are the same, and have the same meaning of 'dead-gauge' or 'dead security'.. Th…e notion tracks back to ancient Roman times. But the word for mortgage in ancient, classical Latin was 'pignus', in the noun form; and 'pignori dare' and 'obligare', as verbs. In both forms, they related to giving and respecting an 'assurance' or of a 'pawn, pledge, security, or token'. Additionally, they related to giving and honoring a 'bet, stake, or wager'.
A mortgage or mortgage loan uses real-estate or personal propertyas collateral to guarantee a repayment of a loan. A mortgage is a debt instrument, secured by the collateral o…fspecified real estate property, that the borrower is obliged to payback with a predetermined set of payments. Mortgages are used byindividuals and businesses to make large real estate purchaseswithout paying the entire value of the purchase up front. Over aperiod of many years, the borrower repays the loan, plus interest,until he/she eventually owns the property free and clear. Mortgagesare also known as "liens against property" or "claims on theproperty." If the borrower stops paying the mortgage, the bank canforeclose.
It means that you have promised to pay for real property you do notown. It means you are fully responsible or paying the mortgage ifthe primary borrower, the owner of the prop…erty, fails to make thepayments. If you are not an owner of the property and yet you signed amortgage then you have volunteered to pay the indebtedness if theco-mortgagor (assumed to be the owner of the property) does notpay. One must wonder why you would sign the mortgage when you don'thave any interest in the property. You have placed your creditrecord and your finances at risk. If the owner doesn't pay the mortgage and the bank forecloses thenyour credit will be ruined and the bank may go after you for anyshortfall after the property is sold at the foreclosure sale. Ifthe owner fails to pay and you don't want your credit ruined thenyou will need to take over paying the debt. If you help to make themortgage payments the owner could toss you out at any time. Youwill get no return on your investment. You have obligated yourselfto pay for property you don't own. **** The above is completely wrong. If you are on the NOTE and not the deed then you agreed to repaythe debt with no interest in the property. If you are on the mortgage it only means that you agree to give upany rights to the property if it is foreclosed on. The mortgage isnot an obligation to pay the Note is the obligation to pay.
Savings is any income that is saved instead of spent. A mortgagebank specializes in starting and servicing mortgage loans.
this site is bogus. its adds all lead to the same bank abusing your mortgage. they want your thoughts so they know how to scam . take a look around it promotes banks and they …same banks causing the problem signed fed up
According to Heitman Analytics, this is defined as... An array of analysis organized by market and product which provides insight into how pricing strategy and market cond…itions will affect mortgage volume and demand. Analytic reports include market response, price elasticity and general sensitivity studies seen both at the firm and market level.
Mortgage origination means the bank or finance company the originally wrote the mortgage. Therefore, the mortgage origination volume would measure how many mortgages a financi…al institution originated or wrote. Some banks buy mortgages as well as write there own. There is a considerable amount of money to be made in writing loans and/or mortgage's. Mortgage loans generate loan origination fees, which can add up to a lot of money if you have a substantial mortgage origination volume.
Consolidated from various online answers... DU stands for Fannie Mae's Desktop Underwriting System, used in replace or an addition of a human underwriter (UW) to qualify for… a mortgage loan. DU can decline your file and once it's declined, it will appear on a national database that every underwriter will see. Recently, that terminology is used to describe one of the ways, to access the new loan products, that fall under the administrations efforts to help struggling, and not so struggling homeowners. The two new products Fannie Mae created, at the behest of the President, can either be run through this system, or not. If one can pass through DU underwriting, one is probably not so struggling, and the truly struggling have to be underwritten by a human UW, on the non DU Gov't suggested refi product. Some lenders have chosen to only refi the not so struggling owners, who the DU system approves, and not even bother to look at the non DU files. In some cases, one might not pass thru DU, and still be eligible with manual UW, or vice versa. Freddie Mac Underwriting System is known as LP.
LTV stands for "loan-to-value." In short, how much you're borrowing versus how much the home is worth. For example, if a home is worth $100,000 and your loan is for $80,000, …then you owe 80% of the home's value, therefore the LTV is 80%.
The lowest mortgage rates refer to when a mortgagor approves a all time low rate to be paid by the mortgagee. This basically means that you'll be paying less out of your pocke…t each month.
It's referencing your House insurance. Homeowners insurance is also known as a Home Hazard Insurance Policy.
A mortgage is a loan secured by real property. Sentence: My sister was able to qualify for a mortgage and purchase her first home.
What does LP menas in mortgage terms
That means the mortgagors meet with the lender's attorney and sign all the documents, the transaction is completed and the mortgage is recorded in the land records. It's a don…e deal. That means the mortgagors meet with the lender's attorney and sign all the documents, the transaction is completed and the mortgage is recorded in the land records. It's a done deal. That means the mortgagors meet with the lender's attorney and sign all the documents, the transaction is completed and the mortgage is recorded in the land records. It's a done deal. That means the mortgagors meet with the lender's attorney and sign all the documents, the transaction is completed and the mortgage is recorded in the land records. It's a done deal.