WHAT IS 'MORTGAGE AND REVERSE MORTGAGE'?
Answer Posted / ganesha kumar
A mortgage is the transfer of an interest in property (or
the equivalent in law - a charge) to a lender as a security
for a debt - usually a loan of money. While a mortgage in
itself is not a debt, it is the lender's security for a
debt. It is a transfer of an interest in land (or the
equivalent) from the owner to the mortgage lender, on the
condition that this interest will be returned to the owner
when the terms of the mortgage have been satisfied or
performed. In other words, the mortgage is a security for
the loan that the lender makes to the borrower.
A reverse mortgage (or lifetime mortgage) is a loan
available to seniors, and is used to release the home
equity in the property as one lump sum or multiple
payments. The homeowner's obligation to repay the loan is
deferred until the owner dies, the home is sold, or the
owner leaves
Is This Answer Correct ? | 0 Yes | 0 No |
Post New Answer View All Answers
HOW CALCULATE ADVANCE TAX ? PLEASE EXPLAIN IT ?IN CASE OF FIRM, IF WE PAID FIRST INSTALMENT OF ADVANCE TAX.
what salary you expect???
I want to know how to get Appeared to the examination of State bank of India. And how can i find the question Book Series.
Short Answer on ______________Import Trade
What problems might be encountered if there were no accounting standards?
how to solved the shares qusionas ?
Why are there 30 blue-chip companies only considered in bombay stock exchange.And why those thirty only effect the sensex
What is Analysing
What are the stages involved while preparing business blue print with examples?
how to do finalisation account ,pls tell me step by step ?
What is miscellaneous expense and when it is used
hello,dear any body give me mis report format. my email :kumar_ranjeet121@yahoo.in
plz send me the apptitude question papers of wipro
Expand-------SCAN
can any one tell me what kind of qns are asked in gail entrance test. i m apearing for the exam of accounts & finance. please let me know the ans on my id pragneshmall1@gmail.com