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Posts Tagged ‘lien’

What is Mortgage ?

TweetShareMortgage A loan is secured by the collateral of some specified real estate property, in which the borrower is obligated to make a predetermined set of payments to repay the loan. When financing is involved in a real estate purchase, it is important to understand if it will be subject to the title or lien theory of mortgages. The way in which a state will interpret how mortgage law is followed will be determined by which type of theory is practiced in state. Each type of theory has special... 

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