| 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 delaware adjustable rate mortgage absolute in form, and unlike a "live gage", was not delaware adjustable rate mortgage 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 was 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 delaware adjustable rate mortgage acceptance 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 delaware adjustable rate mortgage 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 |
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