Free Mortgage Essays and Papers

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  • mortgage

    1556 Words  | 7 Pages

    Mortgage Terms Adjustable-Rate Mortgage (ARM): A mortgage with interest rates and monthly payments adjusted at regular intervals based on changes in either a national or regional index. Also called "variable-rate mortgage." Amortization: A loan payment schedule characterized by equal periodic payments that are calculated to meet current interest payments and retire the principal at the end of a fixed period (at maturity if the loan is fully amortized). Annual Percentage Rate (APR): The total

  • Reverse Mortgage: What Is Reverse Mortgage?

    836 Words  | 4 Pages

    What is reverse mortgage? A Reverse mortgage is a special type of loan for seniors 62 or above, that lets you convert a part of equity in your home into usable cash. Borrowers do not need to repay the loan if the home is their primary residence and they meet the obligations of a reverse mortgage. Most reverse mortgages are provided by the Federal housing administration (FHA), as part of its home equity conversion mortgage (HCEM) program. What types of home are eligible? Any single family home or

  • Mortgage Pros: The Case Of Refinancing A Mortgage

    740 Words  | 3 Pages

    Refinancing a Mortgage Now getting a home has become a lot easier than you had imagined. In the modern era of economic downturn, getting a mortgage refinanced might be more challenging and complicated than was thought possible. Not only has the guidelines been narrowed, but the lenders and lending companies seem to be more particular in choosing whose lives they are going to be changing for the better. Therefore, in the case of rate and term refinance, Texas Mortgage Pros have introduced the option

  • Mortgage Fraud

    753 Words  | 4 Pages

    Mortgage fraud has been increasing globally harming homeowners, businesses and the economy. New ways to detect and prevent mortgage fraud have been developed to discover and prevent criminals before the fact; rather than after the damage has been done. The article An Insight into the World of Mortgage Fraud in the US and UK by Beverly Houlbrook talks about mortgage fraud and how it is becoming more evident “as economies enter recessionary periods and house prices tumbles” (34). It states how the

  • Mortgage Essay

    593 Words  | 3 Pages

    Preface A mortgage is a form of debt, secured by the warranty of a specific real estate property. The borrower is required to pay back the debt in predetermined payments. The most common reason for acquiring a mortgage is to purchase real estate when it cannot be paid for up front. The homebuyer, in a residential mortgage, pledges their home to the bank. Over a period of years, the borrower pays back the loan with interest. Once the mortgage is paid in entirety, the owner retains the property free

  • Mortgage Case Study

    2135 Words  | 9 Pages

    Mortgage Case Study The “Margarita Sunrise” was mortgage for £ 3 000 000 with the Hasselfree Credit Corporation under a registered deed dated 4th January 2003. The vessel was time chartered for a period of 3 years from Dec 2001 to carry Soya bean from Argentina and Brazil to Taiwan. During her second year of the charter she met with an accident (off the coast of Buenos Aires) and had to undergo emergency repairs to fix her engines. Over the next few months she experienced frequent problems

  • Mortgage Loan Amortization

    770 Words  | 4 Pages

    Mortgage Amortization, by definition, is “referring to the process of paying off a debt over time through regular payments. A portion of each payment is for interest while the remaining amount is applied towards the principal balance”(Google). By making the repayments in either monthly payments or the sum of the total payments, people will decrease the amount that they owe, which will help people to save their money in the long run like what the author Glen Craig states “As the interest portion of

  • Borrowers Are Falling Behind on Mortgages

    610 Words  | 3 Pages

    As home prices rise and the economy recovers, fewer borrowers are falling behind on their mortgages, or at least on their primary mortgages. During the housing boom, millions of Americans took advantage of equity gains by pulling money out of their homes through home equity lines of credit (HELOCs). These were largely interest-only loans for 10 years, but that decade is now up for some and coming up for many more. Now, as these loans enter their so-called amortization period--the time when borrowers

  • Greediness of Mortgage Lenders

    666 Words  | 3 Pages

    (1) Mortgage loans are a substantial form of revenue for the financial industry. Mortgage loans generate billions of dollars in the financial industry. It is no secret that companies have the ability to make a lot of money by offering a variety of mortgage loan products. The problem was not mortgage loans but that mortgage companies were using unethical behavior to get consumer mortgage loans approved. Unfortunately, the Countrywide Financial case was not an isolated case. Many top name mortgage companies

  • Mortgage Laws and Contracts

    1536 Words  | 7 Pages

    Each state within the U.S. varies significantly from the other on its mortgage laws both on the legal theory that inspire mortgage contracts and how the rights of creditors are balanced with that of borrowers. Despite these differences, mortgage laws across the U.S. can be traced back to America’s history. However, to better understand how mortgage fraudulent activities occur, it is essential to trace the history of mortgage laws in the U.S including how states adopted statutes that currently govern