J
jack-rice
A 'mortgage' (http://en.wikipedia.org/wiki/Mortage) is basically a
'loan' (http://en.wikipedia.org/wiki/loan) specific to the real estate
'market' (http://svcft.net). Typically, it covers 70-90% of the
purchase price of a house or other property, with the penalty for
non-payment being 'foreclosure'
(http://svcft.net/bad-credit-mortgage-refinance.html), or reversion of
the property to the lender. They are available from most banks,
'credit' (http://svcft.net/home-mortgage-refinance-loan.html) unions,
portfolio lenders and some government 'agencies'
(http://svcft.net/refinance-mortgage-rate.html).Mortgage 'loans'
(http://svcft.net/refinance-mortgage-loan.html) usually employ a
30-year repayment (or amortization) schedule. Payments are a changing
combination of interest and principal, so that in the early years a
payment mostly consists of interest on the outstanding principal
'balance' (http://svcft.net/mortgage-refinance-california.html), but in
later years the mix becomes much more heavily weighted toward paying the
principal itself. There also is private 'mortgage'
(http://svcft.net/florida-refinance-mortgage.html) insurance to
consider, which is required if less than 20% is put down on the 'house'
(http://svcft.net/house-mortgage-refinance.html). It has gotten easier
to actually get rid of this extra 'payment'
(http://svcft.net/best-refinance-mortgage.html) as soon as
possible.Learning the administrative and legal 'aspects'
(http://svcft.net/map.html) of the loan process is essential for anyone
considering a loan. A borrower should know what contracts and documents
he or she will 'encounter'
(http://svcft.net/mortgage-refinance-calculator.html), and how to
negotiate through the paperwork. Also, it is important to be aware of
what fees may be assessed and how to minimize or eliminate them
wherever possible.more about 'loans'
(http://en.wikipedia.org/wiki/loans)
'loan' (http://en.wikipedia.org/wiki/loan) specific to the real estate
'market' (http://svcft.net). Typically, it covers 70-90% of the
purchase price of a house or other property, with the penalty for
non-payment being 'foreclosure'
(http://svcft.net/bad-credit-mortgage-refinance.html), or reversion of
the property to the lender. They are available from most banks,
'credit' (http://svcft.net/home-mortgage-refinance-loan.html) unions,
portfolio lenders and some government 'agencies'
(http://svcft.net/refinance-mortgage-rate.html).Mortgage 'loans'
(http://svcft.net/refinance-mortgage-loan.html) usually employ a
30-year repayment (or amortization) schedule. Payments are a changing
combination of interest and principal, so that in the early years a
payment mostly consists of interest on the outstanding principal
'balance' (http://svcft.net/mortgage-refinance-california.html), but in
later years the mix becomes much more heavily weighted toward paying the
principal itself. There also is private 'mortgage'
(http://svcft.net/florida-refinance-mortgage.html) insurance to
consider, which is required if less than 20% is put down on the 'house'
(http://svcft.net/house-mortgage-refinance.html). It has gotten easier
to actually get rid of this extra 'payment'
(http://svcft.net/best-refinance-mortgage.html) as soon as
possible.Learning the administrative and legal 'aspects'
(http://svcft.net/map.html) of the loan process is essential for anyone
considering a loan. A borrower should know what contracts and documents
he or she will 'encounter'
(http://svcft.net/mortgage-refinance-calculator.html), and how to
negotiate through the paperwork. Also, it is important to be aware of
what fees may be assessed and how to minimize or eliminate them
wherever possible.more about 'loans'
(http://en.wikipedia.org/wiki/loans)