Posted on: 13th Sep, 2009 06:41 am
what Is a Residential Mortgage Transaction?
The money you borrow to buy a house
Hi pettybob,
A residential mortgage transaction is defined as a transaction which involves a deed of trust created against a borrower's principal residence, in order to help the borrower finance the purchase of that residence.
A residential mortgage transaction is defined as a transaction which involves a deed of trust created against a borrower's principal residence, in order to help the borrower finance the purchase of that residence.
Residential mortgage transaction means a transaction in which a mortgage, deed of trust, purchase money security interest arising under an installment sales contract, or equivalent consensual security interest is created or retained in the consumer's principal dwelling to finance the acquisition or initial construction of that dwelling
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