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Mortgage: Difference between revisions
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(Created page with "Since the 20th century, the '''mortgage''' was devised as a way to allow most people to buy property. Prior to 1900, property owners were understood to own their real property...") |
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*Mortgagee = lender | *Mortgagee = lender | ||
*Equity = Borrower's interest in the property | *Equity = Borrower's interest in the property | ||
==Types of mortgages== | |||
*Traditional mortgage = mortgage + promissory note | |||
==See also== | ==See also== | ||
*[[Property Merrill/Outline]] | *[[Property Merrill/Outline]] | ||
*[[Property Singer/Outline]] | *[[Property Singer/Outline]] | ||
Revision as of 17:11, April 14, 2023
Since the 20th century, the mortgage was devised as a way to allow most people to buy property. Prior to 1900, property owners were understood to own their real property outright.
Terminology
- Mortgagor = borrower
- Mortgagee = lender
- Equity = Borrower's interest in the property
Types of mortgages
- Traditional mortgage = mortgage + promissory note
