When Wire Fraud Hits Close To Home – #TalkMusicCity Ep 36 Highlight | Jabar Post Indonesia/a> – This time JabarPost.Net will discuss about Mortgage.
The following is When Wire Fraud Hits Close To Home – #TalkMusicCity Ep 36 Highlight. And for those of you who want to find a similar explanation, you can search in the Mortgage category
When Wire Fraud Hits Close To Home – #TalkMusicCity Ep 36 Highlight | Jabar Post Indonesia
A mortgage loan or, simply, mortgage (/ˈmɔːrɡɪdʒ/) is used either by purchasers of real property to raise funds to buy real estate, or alternatively 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 through a process known as mortgage origination. This means that a legal mechanism is put into place which allows the lender to take possession and sell the secured property (“foreclosure” or “repossession”) to pay off the loan in the event 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 in Britain 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. A 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.
In many jurisdictions, it is normal for home purchases to be funded by a mortgage loan. Few individuals have enough savings or liquid funds to enable them to purchase property outright. In countries where the demand for home ownership is highest, strong domestic markets for mortgages have developed. Mortgages can either be funded through the banking sector (that is, through short-term deposits) or through the capital markets through a process called “securitization”, which converts pools of mortgages into fungible bonds that can be sold to investors in small denominations.
Two local agents have potentially lost everything they have, one of which is now filing for bankruptcy, simply because they failed to communicate effectively to their clients the importance of NOT getting caught in wire fraud schemes that are becoming very prevalent.
One family lost $150,000. The other lost $175,000. In both cases these consumers have or are suing their real estate agents. One agent claimed they didn’t know about it the various ways to disclose this epidemic.
Ignorance did not win in this case.
Listen to this episode:
Subscribe and hear more episodes: https://podcasts.apple.com/…/the-talk-of-music…/id1450729863
Have a question about buying/selling real estate and mortgages? Email [email protected] or use #talkmusiccity to possibly get your question answered on the air!
We Educate and Motivate All Things Real Estate!
Monte Mohr owns Realty One Group Music City and has sold over $1 Billion dollar’s worth of real estate and over 3000 homes sold over his 30+ year career!
Interested in joining Monte as an agent?
Carey Ann Cyr manages and operates one of the Top Branches for CMG Financial in Franklin, TN. She and her team have become known for closing nearly impossible deals! They have processed over 300 million in mortgages since 2016 with over 613 families ushered into their dream homes!
Contact Carey Ann:
The talk of Music City Real Estate can be heard on SuperTalk 99.7 WTN every Sunday at 5pm.
The Talk of Music City Real Estate is Produced, Voiced and Edited by www.jimmccarthyvoiceovers.com
That is the information About When Wire Fraud Hits Close To Home – #TalkMusicCity Ep 36 Highlight | Jabar Post Indonesia
Such are some brief explanations about When Wire Fraud Hits Close To Home – #TalkMusicCity Ep 36 Highlight.>