A form used between mortgage brokers, mortgage bankers, and a home buyer that provides certain disclosures prior to the application of a mortgage is known as Pre-application and Fee Agreement.
A mortgage loan, or simply a mortgage also known as a mortgage loan in civil jurisdictions, is a loan taken by a homebuyer to finance the purchase of real estate or by an existing homeowner for any purpose.
A loan that is used to raise funds in mortgage lien. Loans are "secured" to the borrower's property through a process known as mortgage origination.
This is a legal term that allows a lender to take possession of and sell (“foreclose” or “foreclose”) collateral to repay a loan if the borrower defaults or otherwise fails to comply with the terms of the loan. This means introducing a mechanism.
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