Category Mortgages

Mortgage brokerage

Mortgage brokerage services for the selection, design and obtaining mortgage loans. Mortgage brokerage deals prepared for this activity specialist mortgage broker. A mortgage broker acts as an intermediary who brokers mortgage loans on behalf of individuals or businesses. Traditionally, banks and other lending institutions have sold their own products. An intermediary who brings mortgage borrowers and mortgage lenders together, but does not use its own funds to originate mortgages.

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Features of mortgage loan

The loan is usually long term. The interest rate on a mortgage loan is usually lower than other types of loans, especially in case of low risk assessment, which, for example, may contribute to the low ratio of loan amount to the appraised value, liquidity and other reasons. Usually the Bank advances to the borrower of a mortgage loan less stringent requirements than other types of loans, however, the usual practice is to verify income, insurance claim mortgage, checking real estate appraisal accredited appraisers, sometimes checking of continuous work experience and other activities that enhance the security of the transaction. Repayment of a mortgage loan is often equal payments of the annuity...

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The origin of the term “mortgage”

The term “mortgage” (from the other Greek. ὑποθήκη) first appeared in Greece in the beginning of the VI century B.C. the Ancient Greeks refers to the form of liability of the debtor to the creditor of his land. On the border of the land of the borrower put the pillar with the inscription, which said that this land provides debt. This column was called “mortgage“, translated from the Greek means “backup“, “stand“. Although the security of land, as a way of ensuring the fulfillment of obligations, was known in I-III century.

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Mortgage loan

Mortgage loan is one of the components of the mortgage system. The mortgage is a form of mortgage in which the mortgaged real property remains the property of the debtor and the lender in case of default of its obligations acquires the right to obtain satisfaction through the implementation of this property.You should understand the difference between a mortgage and mortgage loans where the loan is issued by the Bank under the mortgage of immovable property. When credit for the purchase of immovable property itself acquired by the estate goes to the mortgage (pledge) to the Bank as back guarantee loan...
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