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The Truth About Mortgages Gerald Mason
When most people think of a home mortgage, they think of the hundred thousand dollar loan that is taken out to finance the home.
While the loan has something to do with the home mortgage, technically, the mortgage is a legal contract stating the lender can have your home if you do not repay the loan.
This is worth bearing in mind.
Two major theories exist for how lenders handle home mortgage.
The theory followed depends on the state.
In one theory, deemed the title theory, the lender holds your title until the home mortgage loan is completely repaid... | |
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