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.
Professional wrestling has accrued a considerable nomenclature through its long existence. Much of it stems from the industry's origins in the days of carnivals and circuses, and the slang itself is often referred to as "carny talk." In the past, wrestlers used such terms in the presence of fans so as not to reveal the worked nature of the business. In recent years, widespread discussion on the Internet has popularized these terms. Many of the terms refer to the financial aspects of pro wrestling in addition to performance-related terms.
Lawmakers in Spain are proposing a new law that would allow homeowners to pay their mortgages using cryptocurrency ... The drafted law proposes that banks use blockchain technology and smart contracts in managing processes and products such as mortgages, insurances and fund disbursements.
“Introduction into the mortgage system – it also proposes that banks use Blockchain technology to manage mortgages, insurance and speed up compensation – it proposes to extend it to insurance policies, with ‘smart contracts’ with conditions depending ...
Spain Would IncludeCrypto in Its MortgageSystem... The proposal also contemplates the modernization of the structure of banks, that would be able to use blockchain, cryptocurrencies, and smart contracts to carry ordinary processes such as mortgage management, and to streamlining compensation and settlements derived from insurance policies.
Cuban pressed further when asked about smart contracts’ use case in things like mortgages, “smart contracts on blockchains, particularly Ethereum, is an enormous game changer that every company will use” ...Smart contracts are going to eat a lot of the software-as-a-service world.”.
One of the largest Canadian brokers, MatrixMortgageGlobal, is the latest to introduce payments with Bitcoin (BTC), Bitcoin Cash (BCH), Ethereum (ETH), Ripple (XRP), and some stablecoins ... Blockchain technology with the use of smart contracts is going to change the way mortgages are processed.” – commented MMG Founder Shawn Allen.
Everything is taken care of by blockchains and smart contracts leveraging this technology ... As blockchain technology and smart contracts remove the need for intermediaries, the time spent on mortgaging can decrease significantly ... No one will deny that blockchain technology and smart contracts can make a genuine impact on the financial sector.
... mortgages, credit cards, and other financing options. Each of Thought Machine’s services are by way of smart contracts, a blockchain-based technology that enables the automation of highly personalized parameters and commands for nearly every type of financial transaction.
Blockchain is already a multibillion-dollar industry and projected to see significant growth ... Liens, deeds, mortgages and more are all areas that can see improved record-keeping and transparency from implementing blockchain technology. Smart contracts A smart contract is an auto-enforceable contract built on blockchain.
“For example, the blockchain can be extended with so-called smart contracts,” said Dijkhuizen. “These smart contracts offer an alternative to regular contracts, such as mortgage contracts and cadastral data.”. A smart contract is in fact a smart layer on top of the blockchain in which you can lay down certain business rules.