2nd mortgage information
conveyance of land that on its face was absolute and conveyed a fee simple estate, but 2nd mortgage information was in fact conditional, and would be of no effect if certain conditions were not met --- usually, but not necessarily, the repayment of a debt to the original landowner. Hence the word "mortgage," Law French for "dead pledge;" that is, it 2nd mortgage information absolute in form, and unlike a "live gage", was not conditionally dependent on its repayment solely from raising and selling crops or livestock, or of simply giving the fruits of crops and livestock coming from the land that 2nd mortgage information mortgaged. The mortgage debt remained in effect whether or not the land could successfully produce enough income to repay the debt. In theory, a mortgage required no further steps to be taken by the creditor, such as 2nd mortgage information of crops and livestock, for repayment. In many U.S. states, however, a mortgage has been converted by statute to a device for creating a security interest in land. When the landowner fails to perform on the obligation secured by the mortgage, the mortgage holder may file a foreclosure to cause the property to be sold at auction, usually by the sheriff. "You`re looking at 15-to-30 years payment on a credit card with a balance of $20,000 if you`re 2nd mortgage information making that minimum payment," Simmons says. An equity loan is a mortgage placed on real estate in exchange for cash to 2nd mortgage information borrower. For example, if a person owns a home worth $100,000, but does not currently have a lien on it, they may take an equity loan at 80% loan to value (LVR) or $80,000 in cash in exchange for a lien on title placed by the lender of the equity loan. Many lending institutions require the borrower to 2nd mortgage information only an interest component of the loan each month (calculated daily, and compounded to the loan once each month). The borrower can apply any
2nd mortgage information
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