<p style="margin-bottom: 0cm;"><a href="http://www.noss123.com/">http://www.noss123.com/</a></p>
<br><p>According to Anglo-American property law a <b>mortgage</b> occurs when an owner (usually of a fee simple interest in realty) pledges his interest as security or collateral for a loan. Therefore, a mortgage is an encumbrance on property just as an easement would be, but because most mortgages occur as a condition for new loan money, it has become known as a the generic term for a loan secured by such real property. As with other types of loans, mortgages have an interest rate and are scheduled to
<span class="extiw">amortize</span>
over a set period of time; typically 30 years. All types of real
property can, and usually are, secured with a mortgage and bear an
interest rate that is supposed to reflect the lender's risk.</p>
<p>Mortgage lending is the primary mechanism used in many countries to finance private ownership of residential property. For commercial mortgages
see the separate article. Although the terminology and precise forms
will differ from country to country, the basic components tend to be
similar:</p>
<ul><li>Property: the physical residence being financed. The exact form of
ownership will vary from country to country, and may restrict the types
of lending that are possible.</li><li>Mortgage:
the security created on the property by the lender, which will usually
include certain restrictions on the use or disposal of the property
(such as paying any outstanding debt before selling the property).</li><li>Borrower: the person borrowing who either has or is creating an ownership interest in the property.</li><li>Lender: any lender, but usually a bank or other financial institution.
</li><li>Principal: the original size of the loan, which may or may not
include certain other costs; as any principal is repaid, the principal
will go down in size.</li><li>Interest: a financial charge for use of the lender's money.</li></ul>Foreclosure or repossession:
the possibility that the lender has to foreclose, repossess or seize
the property under certain circumstances is essential to a mortgage
loan; without this aspect, the loan is arguably no different from any
other type of loanBy participating in<strong> Number One Success System</strong> and willingly giving a gift to one or
more of its participants, the donor of such a gift has
chosen to extinguish all rights to the gift and cannot
rightfully expect or depend on <strong>Number One Success System</strong> or any of its participants for any type
of monetary compensation.<br><br>