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One of the most common examples of a security interest is a mortgage: a person is loaned money from a bank to buy a house, and they grant a mortgage over the house so that if they default in repaying the loan, the bank can sell the house and apply the proceeds to the outstanding loan.
A one-party state, single-party state, one-party system or single-party system is a governance structure in which only a single political party controls the ruling system. [1] In a one-party state, all opposition parties are either outlawed or enjoy limited and controlled participation in elections .
Collateral Protection Insurance, or CPI, insures property held as collateral for loans made by lending institutions. CPI, also known as force-placed insurance and lender placed insurance, [1] may be classified as single-interest insurance if it protects the interest of the lender, a single party, or as dual-interest insurance coverage if it protects the interest of both the lender and the ...
In lending agreements, collateral is a borrower's pledge of specific property to a lender, to secure repayment of a loan. [1] [2] The collateral serves as a lender's protection against a borrower's default and so can be used to offset the loan if the borrower fails to pay the principal and interest satisfactorily under the terms of the lending ...
An "asset-backed security" is sometimes used as an umbrella term for a type of security backed by a pool of assets, [1] and sometimes for a particular type of that security – one backed by consumer loans [2] or loans, leases or receivables other than real estate. [3]
Example of the secondary mortgage market. Imagine you take out a mortgage to purchase a new home. The lender gives you the funds to purchase the property, and you agree to pay the money back over ...
A mortgage loan is a secured loan in which the collateral is property, such as a home.; A nonrecourse loan is a secured loan where the collateral is the only security or claim the creditor has against the borrower, and the creditor has no further recourse against the borrower for any deficiency remaining after foreclosure against the property.
Hard money loans: A hard money loan is a non-conforming loan providing a borrower with short-term funding. Real estate investors often seek them out because they need money to flip a property, but ...