What are Mortgage Payments Mortgage payments are basically payments that which are scheduled to be made regularly at a set specific time period, to payback the money borrowed. The borrower is expected to make the mortgage payments inclusive of principal and interest. The interest is the surplus received by the lender for lending the money,…
Continue ReadingWhat is a ‘Second Mortgage’ To understand how a second mortgage works, one must first understand what a second mortgage comprises of. A second mortgage may be referred to as a subordinate mortgage; a kind of mortgage that is made on the bases of the original mortgage. Should the borrower be a defaulter, the original…
Continue ReadingMoney, inflation, increasing interest rates are some very commonly heard words. In most of the countries of the world, interest rates are really high and one cannot think about buying a house or a car. Interest rates are very important, as they decide the monthly mortgage, one has to pay. We are mentioning few countries…
Continue ReadingEvery gift might bare a hidden burden. And while most people thought that the federal government’s decision to stimulate the economy by cutting taxes and raising spending was a wise decision, this is the Devil in disguise, actually. Or, if you prefer, the reason why mortgage rates are going up in the US. The Federal…
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