- published: 21 Sep 2012
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A mortgage loan, also referred to as a mortgage, is used by purchasers of real property to raise funds to buy real estate; or 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. This means that a legal mechanism is put in place which allows the lender to take possession and sell the secured property ("foreclosure" or "repossession") to pay off the loan in the event that 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 by English lawyers 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. 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.
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A property mortgage is the biggest debt most of us will ever take on. So choosing the right one is vitally important. Tim Bennett explains the basics of mortgages and highlights the main pitfalls to avoid. Related links: - Introduction to house price surveys http://moneyweek.com/videos/introduction-to-house-price-surveys-10107/ - Why you need an Isa http://moneyweek.com/videos/why-you-need-an-isa-10616/ - How to cut your tax bill http://moneyweek.com/videos/how-to-cut-your-tax-bill/ - A beginner's guide to pensions http://moneyweek.com/videos/a-beginners-guide-to-pensions-60900/ MoneyWeek videos are designed to help you become a better investor, and to give you a better understanding of the markets. They’re aimed at both beginners and more experienced investors. In all our videos...
Explains mortgages. This will help you understand what you are doing when you are paying a mortgage. More free lessons at: https://www.khanacademy.org/economics-finance-domain/core-finance/housing/mortgages-tutorial/v/introduction-to-mortgage-loans
The law of Mortgages in England Land Law Welcome to the Official Law Sessions Youtube Channel. Subscribe NOW. DISCUSS LAW WITH US AT http://www.facebook.com/lawsessions SUBSCRIBE TO OUR LECTURE SERIES AT: http://www.lawsessions.com (Opens January 1, 2013)
What is a mortgage? Mortgages exist to solve a problem. Most people want to buy their own home, but a house costs hundreds of thousands of dollars, and you likely don’t have that kind of cash lying around in the crevices of your sofa. You’d have to work and save for decades to get that much money, and in the meantime you could easily end up paying out more in rent than the cost of the house you wanted to buy. So to enable people to buy a house before they are too old to remember why they wanted it in the first place, we have the mortgage system. A mortgage is just a type of loan, pure and simple. If the house you want to buy costs $100,000, then you could pay $10,000 from your savings (that’s called the downpayment), and borrow the remaining $90,000 from the bank. So if it’s that simple...
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Understanding how mortgage interest rates are quoted. Created by Sal Khan. Watch the next lesson: https://www.khanacademy.org/economics-finance-domain/core-finance/housing/mortgages-tutorial/v/short-sale-basics?utm_source=YT&utm;_medium=Desc&utm;_campaign=financeandcapitalmarkets Missed the previous lesson? Watch here: https://www.khanacademy.org/economics-finance-domain/core-finance/housing/mortgages-tutorial/v/introduction-to-mortgage-loans?utm_source=YT&utm;_medium=Desc&utm;_campaign=financeandcapitalmarkets Finance and capital markets on Khan Academy: Most people buying a home need a mortgage to do so. This tutorial explains what a mortgage is and then actually does some math to figure out what your payments are (the last video is quite mathy so consider it optional). About Khan Aca...
When you apply for a mortgage, it's a financial responsibility you'll have for years, maybe even decades. So choosing the right kind of mortgage for you and your goals is a key step to successful homeownership. We'll give you an idea of the types of mortgage options available so you can make an informed and beneficial choice. To learn more, and to see more videos, visit http://go.bofa.com/d58d.
What is a mortgage, and which lending provisions are right for you? Learn about down payments, the difference between a mortgage term and amortization, types of mortgage rates, and the benefits of a mortgage broker.
Bar preparation video on Mortgages and Deeds of Trust (Real Property Law).
A mortgage loan, also referred to as a mortgage, is used by purchasers of real property to raise funds to buy real estate; 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. This means that a legal mechanism is put in place which allows the lender to take possession and sell the secured property ("foreclosure" or "repossession") to pay off the loan in the event that 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 by English lawyers 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 foreclosu...
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A mortgage is a debt instrument, secured by the collateral of specified real estate property, that the borrower is obliged to pay back with a predetermined set of payments. Mortgages are used by individuals and businesses to make large real estate purchases without paying the entire value of the purchase up front. Over a period of many years, the borrower repays the loan, plus interest, until he/she eventually owns the property free and clear. Mortgages are also known as "liens against property" or "claims on property." If the borrower stops paying the mortgage, the bank can foreclose.
Solve for the present value of mortgages using a calculator and algebra.
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Fiqhi Debate: Interest Based Mortgages for buying homes in Western Societies from an Islamic Perspective Speaker: Sheikh Hacene Chebbani (Lectures based on a book written by Dr. Salah al-Sawi) Sheikh Hacene Chebbani was born in Algeria and has been living in Canada since 1997. Sheikh Hacene has completed a Master's in Islamic finance (2012) from UK. In 1993 he graduated in Sharīah (BA) from the Islamic University of Madinah. While there he took the opportunity to study Aqīdah, Fiqh and Hadīth with some of the notable scholars of that blessed city. In Canada Sheikh Hacene has worked in Islamic schools teaching the Arabic language and Islamic studies and has served as Sharīah consultant and head teacher for over 6 years. Sheikh Hacene is currently an Imam in Calgary where he gives reg...
Are you interested in a secure investment with 8%+ fixed annual interest investing in primary Canadian real estate? This video provides educational material on Syndicated Mortgage instruments I offer investments in Syndicate Mortgages with top Canadian developers. A Syndicated Mortgage allows several smaller investors to collectively fund a large-scale Real Estate development project via a mortgage instrument, with defined terms, and fixed interest rates. Each individual investor has their full face amount registered and secured in their favor at the Land Registry Office. This provides a duvet charge against the subject real estate and provides collateral for the investor We specialize in bringing our clients products that offer: - Safety of capital: Your capital is secure at its...
Truth about Forclosures
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http://www.spirepoint.ca Arms Length Mortgages (also called RRSP Mortgages) are Canada's best kept real estate investing secret. Learn how retirement accounts such as RRSPs, RRIFs, LIRAs, RESPs, and even TFSAs can directly invest in mortgages for solid returns
The Method is a powerful, money saving leverage banking strategy that can help any Canadian family save tens of thousands of dollars in mortgage interest, while shortening the time it takes to get mortgage free, without making extra payments. Magnetic Mortgages facilitates free workshops to learn The Method all over Canada.
Foreclosures, Mortgages, Nationality