Mortgage

Mortgage

Posted on 26. Jul, 2010 by in Mortgage

A mortgage is a security right and realization of value, which is to ensure fulfillment of an obligation (usually payment of a loan or credit) in an asset (usually property) which, although serious, remains in power of its owner, the mortgagee may, if guaranteed debt is not satisfied in a timely fashion, promoting the forced sale of the asset by the mortgage, regardless of its owner at the time (reipersecutoriedad) for, in amount, payment of the claim made due to the extent of the amount obtained by the forced sale promoted for the realization of the mortgaged property.

 

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Related articles: http://en.wikipedia.org/wiki/Mortgage_loan

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