Posted on: 06th Jul, 2011 02:43 am
I want to know about mortgage in details. Is it possible for you to give explanation
Hi troger,
Check out the given page in order to know the basics of mortgage:
http://www.mortgagefit.com/mortgage.html
Thanks,
Jerry
Check out the given page in order to know the basics of mortgage:
http://www.mortgagefit.com/mortgage.html
Thanks,
Jerry
A mortgage is a loan secured by real estate. It's used to help people pay for properties and is usually either paid monthly, bi-weekly or weekly. The term "Mortgage" literally means 'Death Contract" in French, meaning that the contract ends (or dies) when either the loan is paid off in full or the property is taken in foreclosure.
When you take out a mortgage, you must pay it off within the set amortization period. It usually is anywhere from 15 to 30 years and payments are made either monthly, bi-weekly or accelerated weekly payments.
When you take out a mortgage, you must pay it off within the set amortization period. It usually is anywhere from 15 to 30 years and payments are made either monthly, bi-weekly or accelerated weekly payments.