Mortgages
A mortgage is a formal agreement in which a bank or other financial institution lends cash at interest in return for assuming the title to the debtor's property, on the condition that the obligation is paid in full.
Mortgage
The term "mortgage" is a type of loan that a borrower takes to maintain his house or any form of assets and he agrees to return the amount in a particular period of time to the lender usually in a series of regular equally monthly, quarterly, or half-yearly payments.
Explain term Foreclosure?
Foreclosure:
Foreclosure is the lawful handle whereby a moneylender accepts ownership of an asset, removes the mortgage holder and offers the domestic when a property holder gets to be incapable to meet the full principal and interest installments on his or her contract, as expressed within the lease deed.
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