Mortgage finance has become a necessity for buying home, office or any other real-estate property. Don’t be confused about the mortgage finance process or the terminologies used by the lender or the finance broker. Read this and understand every aspect of mortgage finance. In simple terms, mortgage financing is the process of providing finance to individuals and business entities, to secure properties, and the finance is repaid through timely and consecutive monthly instalments. To understand the mortgage finance process, you must first try and understand the basic idea behind mortgages. Mortgage - Definition It is a legal agreement that conveys the conditional right of ownership of an asset or property by its owner (the mortgagor) to a lender (the mortgagee) as security for a loan with the condition that the conveyance of the title becomes void upon the repayment of the debt. Are Mortgages Legally Enforceable? Yes, they are. In order to be legally en...
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