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Mortgage legal definition of mortgage

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As the borrower, or mortgager, you repay the lender, or mortgagee, the loan principal plus interest, gradually building your equity in the property. The interest may be calculated at either a fixed or variable rate, and the term of the loan is typically between 10 and 30 years. While the mortgage is in force, you have the use of the property, but not the title to it. When the loan is repaid in full, the property is yours. But if you default, or fail to repay the loan, the mortgagee may exercise its lien on the property and take possession of it. A written document that provides a lender with rights in real property as collateral ...
during the mortgage servicing process. There is no legal definition in the United States for predatory mortgage servicing. However, the term is widely used and accepted by state and federal regulatory agencies such as the FDIC , OTS , OCC , FTC and Government Sponsored Enterprises (GSEs) such as Fannie Mae and Freddie Mac . The term is believed to have been coined in a 1999 white paper titled 20th Century Loan Sharks from Americans Against Mortgage Abuse. The paper's author, Nye Lavalle , described four stages of predatory mortgage practices that included: Stage 1 -- Predatory Mortgage Securitization ; Stage 2 -- Predatory ...
Mortgage Elimination Programs a Scam | All About Financial Matters
The only kind of mortgage elimination with which I’m familiar are those involving house payments made for an agreed upon term. This is not the kind of mortgage elimination to which my friend referred. And this was the third call in a year asking about programs that get rid of debt without declaring bankruptcy or paying bills (with a clean credit rating, no less). To get information about this “get your Deed of Trust without fulfilling the contract you signed — don’t pay any more mortgage payments” program, I called a couple of mortgage bankers. They, too, knew little or nothing about mortgage elimination programs. ... market research, surveys and trends
Personal Injury Lawyer Will Steal Your Unprotected Personal Assets ...
-worker regarding a meeting. He dials the number on his cell phone, and briefly takes his eyes off the road. In that instant, a vehicle in front of him shifts lanes, and he strikes it, seriously injuring a 78-year-old woman. Under exactly this scenario, a jury awarded a $21 million judgment against Dykes Industries of Little Rock, Arkansas. Can you buy enough insurance to cover an unexpected business liability? NO. Insurance covers only a first legal defense and insurance only covers actual damages. Insurance does NOT cover punitive damages. STATISTICS ON AUTO ACCIDENTS AND PERSONAL INJURY LAWYERS More than 42,000 deaths ... market research, surveys and trends


Government National Mortgage Association legal definition of ...
The Government National Mortgage Association (GNMA), also known as Ginnie Mae, is a corporation wholly owned by the federal government. Created by the Housing and Urban Development Act of 1968, 825 Stat. 491, GNMA is designed to support the federal government's housing programs by establishing a secondary market for the sale and purchase of residential mortgages. During the late 1960s, the federal government expressed concern that available credit for low-income housing was insufficient to meet the growing demand. In response GNMA began issuing certificates to obtain additional funds for government-backed, low-income ... industry trends, business articles and survey research
FRB: Speech, Bernanke--The Subprime Mortgage Market--May 17, 2007
The recent sharp increases in subprime mortgage loan delinquencies and in the number of homes entering foreclosure raise important economic, social, and regulatory issues.  Today I will address a series of questions related to these developments.  Why have delinquencies and initiations of foreclosure proceedings risen so sharply?  How have subprime mortgage markets adjusted?  How have Federal Reserve and other policymakers responded, and what additional actions might be considered?  How might the problems in the market for subprime mortgages affect housing markets and the economy more broadly? The ... industry trends, business articles and survey research
Strategic default penalties threaten struggling homeowners
Last week, Fannie Mae, the government-sponsored enterprise that buys up mortgage contracts from loan originators to keep the housing market liquid, announced new penalties for homeowners who strategically default . “Defaulting borrowers who walk away and had the capacity to pay or did not complete a workout alternative in good faith will be ineligible for a new Fannie Mae-backed mortgage loan for a period of seven years from the date of foreclosure,” the company announced, adding that the policy goes into effect this Thursday, July 1. “Fannie Mae will also take legal action to recoup the outstanding mortgage ... market trends, news research and surveys resources
Not all on the same page
THERE were amendments to this, amendments to that, even amendments to amendments. Negotiators and aides seemed to be drowning in paper. But a marathon session of bleary-eyed horse-trading between Democrats and Republicans yielded, at 5.39am on June 25th, an agreed text of what supporters portray as America’s most important package of financial law since the Depression—and opponents decry as a 2,319-page cop-out. Before becoming law as the Wall Street Reform and Consumer Protection Act (known as Dodd-Frank after its architects, Chris Dodd and Barney Frank—pictured above, showing the strain), the bill must be approved by both ... market trends, news research and surveys resources


Collateralized Mortgage Line of Credit - Definition of ...
Contribute to improving the legal and regulatory environment for housing finance . How Collateralized Mortgage Line of Credit Works? ... technology research, surveys study and trend statistics
HUD - Glossary
FHA's single family program which provides mortgage insurance to lenders to protect against the borrower defaulting; 203(b) is used to finance the purchase of new or existing one to four family housing; 203(b) insured loans are known for requiring a low down payment, flexible qualifying guidelines, limited fees, and a limit on maximum loan amount. 203(k): this FHA mortgage insurance program enables homebuyers to finance both the purchase of a house and the cost of its rehabilitation through a single mortgage loan. A ... technology research, surveys study and trend statistics
Evidence on Discrimination in Mortgage Lending Author(s): Helen F ...
Aug 15, 2008 ... is narrower than the current legal definition of discrimination. ... Applying this definition to the field of mortgage lending, ...
WikiAnswers - What is the definition of mortgage
I've attached resources where I found answers to your questions. From types of mortgage I found a very good article, and in case you have any more questions I linked to a wikipedia page about... If you are on a deed but not the mortgage are you responsible for the mortgage ? Actually, no. BUT, if the person on the note stops paying and the property is foreclosed upon, you lose the property just like they do. Actually, it depends on when your name went on the deed. If... Is Balloon mortgage and mortgage are same? A mortgage can be used to describe the various versions of the financial instrument. balloon payment mortgage ...
Google Answers: A tax/mortgage question...
Well...I've been searching for this answer for a while...maybe you all can help. So - my parents are co-signing a loan for my wife/I. I am wondering about the tax ramifications. This is what I know (or THINK I know) 1) If everyone is on the loan, whatever payments each party makes are deductible. This is what I'm wondering 1) If my parents are ONLY on the loan (ie, my wife and I are not) and we make the payments, can we take a deduction? I've read some IRS 'stuff' that seems to say yes, as long as you are an owner? So that presumably means that we need to be on ...