Real Estate A history of Mortgages
If you own a home, then likely you also have a mortgage. Many people who have a great deal of debt are on the prowl for solutions to their debt problems. These people, when they request information about loans, consolidations, refinances, or reverse mortgages are what those in the finance business call mortgage leads. If you are a loan originator, a mortgage loan officer or a mortgage broker, then you know the great value that comes from using internet mortgage leads. They save you time in developing relationships with interested people, and the more interested individuals to whom you can speak, the more deals you will close and the more money you will make. It all comes down to the mortgage you can offer this potential client.
The word "mortgage" is a term derived from French law, which means "dead pledge." In essence, the debt incurred from the clients' mortgages was absolute. Of course, today's mortgages come in shorter terms if that is what a client desires. It is a legal means for a purchaser to secure a property, and it also refers to the mortgage loan, or the debt that the mortgage secures.
Originally, a mortgage was a deal that was struck between a land owner and someone who wanted to purchase the property. The mortgage placed certain conditions on the deal, and it would annul the deal if the conditions were not met. Historically speaking, the person who agreed to the mortgage would be responsible to make sure that the land produced a crop or livestock that would then be sold to make the money to pay off the debt to the land owner. Frighteningly, if the land could not produce livestock or a successful crop, the mortgage debt still would remain in effect.
In the early forms of a mortgage, the land owner had all the power. This person could sell the land or refuse to continue the relationship to the borrower whenever he wanted to, and the borrower had no recourse, at least at first. This led to borrowers finally being given the right in court to be the absolute owner of the property after they had paid it off in full. This was called "equity of redemption."
This step into a legal determining of the rights of the land owner and the borrower eventually led to the law being changed so that the land owner would keep ownership of the property, but the borrower had the right to take possession of the property, sell it if he wished or even put it up for foreclosure in order to make money to reimburse the mortgage. Borrowers today are still looking for all of the legal perks that come from having a mortgage.
Related Tags: mortgage, home loans, refinance, reverse mortgages, mortgage leads, debt leads
Your Article Search Directory : Find in Articles
Recent articles in this category:
- 5 Reasons to Buy Jasper Real Estate
Jasper is a small town in North Georgia and it is growing rapidly. Since North Georgia Foreclosures - Ellijay Real Estate
Ellijay Georgia has always been known for it's outdoor activities and seasonal festivals. Downtown E - How to Deal With Blocked Drains
A blocked drain is an occurrence that happens eventually to all households. You may have experienced - The Benefits of Hiring a Plumbing Consultant
Your dream home may not always be brand new, with fresh paint and home essentials. There are certain - The Worst Mistake You Can Make When You Apply to Rent a Home
A whole new class of people has become renters and potential renters in America during the last thre - State of Individual Real Estate Markets
Everybody is well aware of the hit that the real estate market has taken over the past three years. - Thoughts on Avoiding the Landlord Trap
I've heard several people say they would never invest in a multifamily rental property because they - An Idea to Increase the Bottom Line of Your Investment Property
Are you pretty sure that you've already maximized the income coming from your property? If you've cl - Finding the Value of a Piece of Investment Real Estate
There is a lot of confusion about how much investment property is really worth. We'll look at three - Arkansas Land For Sale - Search Engine Optimization and Your Website
If you have Arkansas land for sale and are interested in advertising it on your website I have a few
Most viewed articles in this category:
- How High Did Home Prices Really Go
The U.S. Census Bureau released data on Tuesday that revealed where the nation's hottest markets wer - New Homeowners Tips for Household Safety
With so many items on their ¡°buying a home¡± checklist, few homeowners take into considerati - Truth About VA Foreclosures
Many people now days are finding themselves out of work and not being able to make the mortgage paym - Avoid Rookie Real Estate Investing Mistakes
When Robert Kiyosaki, author of the Rich Dad book series, bought his first property he was, of cours - Finding The Perfect Roommate On Craigslist
Craigslist, Roommates, and The Concerns Craigslist is "great" when it comes to looking for housing - The Forgotten Secret To Selling Property - Simple, Quick And Cheap
Why spend big dollars trying to get people to drive a long way to see your house, when your best pro - Get Amazing Results Selling Real Estate Online
This is the age of the internet. Why not take advantage of the widespread use of the internet to ad - Dallas Real Estate Information
In the United States, Dallas is considered as the second leading state according to the area. If any - The Largest Private Equity Indian Real Estate Deal
In the largest private equity deal won by the real estate sector, Morgan Stanley Real Estate has inv - Fractional Real Estate Ownership
Fractional ownership of vacation ski condos is growing in popularity. Park City Utah a popular ski t
