wirat1977
Joined: 14 Oct 2008
Posts: 5
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| Posted: Tue Oct 14, 2008 1:35 pm Post subject: Basics of Mortgage |
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“ You may have the desire of getting a home of your own, but lack of finance may prevent you from fulfilling your dream. This is where a mortgage can help you. It provides a financing option that can make your dream come true. “
Mortgage is a legal process through which a borrower takes a loan for the purchase of residential or commercial property. The same property is kept as the security for the debt.
In general, a mortgage transaction involves two parties ? the lender or the mortgagee and the borrower or the mortgagor.
Mortgage lenders are concerned about your financial strength in paying for the loan costs and making the monthly payments to clear the debt. So, they will consider your credit score, your monthly gross income, and the amount of cash you can pay as the down payment. The higher your score, the lesser is the risk in offering you the loan.
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http://look4myloan.com/mortgage_loans/?p=151 |
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