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A mortgage loan or simply mortgage (/ ˈ m ɔːr ɡ ɪ dʒ /), in civil law jurisdictions known also as a hypothec loan, is a loan used either by purchasers of real property to raise funds to buy real estate, or by existing property owners to raise funds for any purpose while putting a lien on the property being mortgaged.
A mortgage note is one of many closing documents a borrower signs when closing on a home loan. In simplest terms, it represents the mortgage for a given borrower. In technical terms, a mortgage ...
Technical product definitions can vary between countries. In Australia, as example, a mortgage note is a secured (senior debt) debt security (also known as secured credit bond) which can be issued in relation to an entire specified credit transaction (so one isolated and entire loan transaction) or parts thereof.
A due-on-sale clause is a clause in a loan or promissory note that stipulates that the full balance of the loan may be called due (repaid in full) upon sale or transfer of ownership of the property used to secure the note. The lender has the right, but not the obligation, to call the note due in such a circumstance.
After closing, the VA will return your certificate of eligibility with a note stating that you have used (all or part) of your VA mortgage loan entitlement. Qualified borrowers can use their ...
Mortgage expert David Reed invites Walletpop readers to ask him questions about real estate financing. leave your questions in the comment section of this post. Q: David: What is "VA?" I'm hoping ...
Unpaid principal balance (UPB) is the portion of a loan (e.g. a mortgage loan) at a certain point in time that has not yet been remitted to the lender. [1]For a typical consumer loan such as a home mortgage or automobile loan, the original unpaid principal balance is the amount borrowed, and therefore the amount the borrower owes the lender on the origination date of the loan.
The VA doesn’t heavily regulate the loans it backs or set borrower qualifications, but the lender issuing the VA loan applies its own underwriting criteria. As a result, factors like an ...
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