A mortgage loan, also referred to as a mortgage, is used by purchasers of real property to raise funds to buy real estate; or by existing property owners to raise funds for any purpose while putting a lien on the property being mortgaged. The loan is "secured" on the borrower's property. This means that a legal mechanism is put in place which allows the lender to take possession and sell the secured property ("foreclosure" or "repossession") to pay off the loan in the event that the borrower defaults on the loan or otherwise fails to abide by its terms. The word mortgage is derived from a "Law French" term used by English lawyers in the Middle Ages meaning "death pledge", and refers to the pledge ending (dying) when either the obligation is fulfilled or the property is taken through foreclosure.
Mortgage can also be described as "a borrower giving consideration in the form of a collateral for a benefit (loan).
Mortgage borrowers can be individuals mortgaging their home or they can be businesses mortgaging commercial property (for example, their own business premises, residential property let to tenants or an investment portfolio). The lender will typically be a financial institution, such as a bank, credit union or building society, depending on the country concerned, and the loan arrangements can be made either directly or indirectly through intermediaries. Features of mortgage loans such as the size of the loan, maturity of the loan, interest rate, method of paying off the loan, and other characteristics can vary considerably. The lender's rights over the secured property take priority over the borrower's other creditors which means that if the borrower becomes bankrupt or insolvent, the other creditors will only be repaid the debts owed to them from a sale of the secured property if the mortgage lender is repaid in full first.
Dave and Tina Dodd want to buy a house. They make a contract with shifty John Napper who suggests builder George Shooks.
The film was one of a series of drama documentaries produced at Film Australia for the Nine Network dealing with social issues. It was made using improvisation. Others in the series included Prejudice.
Bill Bennett described it as one of his favourite films.
FirstBank embarked on its African expansion in 2011. Today, the Bank is present in six other African markets namely ... As part the 2020 – 2024 strategic plan, FirstBank refreshed its vision to be “Africa’s Bank of First Choice” to serve as an anchor for its renewed African expansion drive.
“It’s like a 35-year head start, where African-Americans could be discriminated against,” said Deon Oden, a mortgage loan officer of Coulee Bank, who participated in the Housing Coalition’s discussion of BIPOC homeownership ... Like many similar programs, it provides upfront funds with repayment after the house is resold or the mortgage is fully paid.
Four national banks have been fined recently for redlining AfricanAmericans from obtaining mortgages ... Covid hospitalizations and deaths have hit the African American community much harder than the White population, as documented by multiple medical organizations and hospitals.
\nMuch has changed in the 35 years since “The Colour of Money”, and yet racial disparities in mortgage lending remain ... A survey conducted in 2020 by the Pew ResearchCentre, a think-tank, found that 49% of American adults—and 86% of African-Americans—believe that black people are treated less fairly than white people when applying for a mortgage.
SouthAfricans have been hit this year by rising mortgages and rents, higher fuel prices and soaring food inflation, leaving many with little to no cash to cover expenses ... Shoprite's ten-country African supermarket division increased sales by 18.8% in rand terms.
Following its good capitalization, among others, a pan-African credit agency, Agusto & Co has rated AbbeyMortgageBankBBB in its latest rating report. The BBB rating from leading Agusto & Co, will further propel Abbey as the first choice for mortgage and related investments in the country.
A great opportunity presented by the UK is that Africans can legally buy a property or have banks offer favourable mortgage terms for investment ... “We aim to help Africans with the ability to provide mortgages and buying of property through thorough research for the safety of their investment in the UK.
In practical terms, the panel added, Reparations will lift AfricanAmericans people out of poverty, eliminate redlining and force banks and other financial institutions to end extending subprime loans to Black and Brown people, and pressure mortgage companies to begin to deal ...