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Mortgage Modification
Mortgage modification is a process where the terms of a mortgage are modified outside the original terms of the contract agreed to by the lender and borrower (i.e. mortgagee and mortgagor in mortgage states; Trustee and Trustor in Trust Deed states). In general, any loan can be modified, and the process is referred to as loan modification or debt rescheduling. Background In the normal progression of a mortgage, payments are made according to the loan documents until the mortgage is paid in full (or paid off). The lender holds a lien on the property, and if the borrower sells the property before the mortgage is paid-off, the unpaid balance of the mortgage is paid to the lender to release the lien. Any change to the mortgage terms is a modification. Changes may include any of the following: a reduction of the yield (commonly referred to as the interest rate), an extension of the payment term (ex. extending a 30-year term to a 40-year term), or a reduction of the principal balance of ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Mortgage Loan
A mortgage loan or simply mortgage (), in civil law jurisdicions known also as a hypothec loan, is a loan used either 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 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 ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Mortgage Law
A mortgage is a legal instrument of the common law which is used to create a security interest in real property held by a lender as a security for a debt, usually a mortgage loan. ''Hypothec'' is the corresponding term in civil law jurisdictions, albeit with a wider sense, as it also covers non-possessory lien. A mortgage in itself is not a debt, it is the lender's security for a debt. It is a transfer of an interest in land (or the equivalent) from the owner to the mortgage lender, on the condition that this interest will be returned to the owner when the terms of the mortgage have been satisfied or performed. In other words, the mortgage is a security for the loan that the lender makes to the borrower. The word is a Law French term meaning "dead pledge," originally only referring to the Welsh mortgage (''see below''), but in the later Middle Ages was applied to all gages and reinterpreted by folk etymology to mean that the pledge ends (dies) either when the obligation is fu ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Trusteer
Trusteer is a Boston-based computer security division of IBM, responsible for a suite of security software. Founded by Mickey Boodaei and Rakesh K. Loonkar, in Israel in 2006, Trusteer was acquired in September 2013 by IBM for $1 billion. Trusteer's products aim to block online threats from malware and phishing attacks, and to support regulatory compliance requirements. Trusteer's malware research team aims to analyze information received from the installed base of 30,000,000 user endpoints and hundreds of organizations. Trusteer has a presence in North America, South America, Europe, Africa, Japan and China. Products Trusteer's products aim to prevent incidents at the point of attack while investigating their source to mitigate future attacks. In addition, Trusteer allows organizations to receive immediate alerts, and to report whenever a new threat is launched against them or their customers. Trusteer Rapport Trusteer Rapport is security software advertised as an addition ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Trustor (agent)
In social sciences and in information technology, trustor (alt. ''truster'' in e.g.) is an entity that trusts the other entity (the trustee Trustee (or the holding of a trusteeship) is a legal term which, in its broadest sense, is a synonym for anyone in a position of trust and so can refer to any individual who holds property, authority, or a position of trust or responsibility to ...). Trustor may be a social agent (such as a person or an institution) or a technical agent (such as a computer or a software application), acting on behalf of a social agent.Cofta, P. (2007) Trust, Complexity and Control: Confidence in a Convergent World. John Wiley and Sons. References Accountability {{vocab-stub ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Loan
In finance, a loan is the lending of money by one or more individuals, organizations, or other entities to other individuals, organizations, etc. The recipient (i.e., the borrower) incurs a debt and is usually liable to pay interest on that debt until it is repaid as well as to repay the principal amount borrowed. The document evidencing the debt (e.g., a promissory note) will normally specify, among other things, the principal amount of money borrowed, the interest rate the lender is charging, and the date of repayment. A loan entails the reallocation of the subject asset(s) for a period of time, between the lender and the borrower. The interest provides an incentive for the lender to engage in the loan. In a legal loan, each of these obligations and restrictions is enforced by contract, which can also place the borrower under additional restrictions known as loan covenants. Although this article focuses on monetary loans, in practice, any material object might be lent. ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Debt Rescheduling Debt rescheduling is the lengthening of the time of debt repayment by restructuring the terms of an existing loan. Types of resecheduling In retail banking, the debt rescheduling can be applied for personal loans given to individuals as education loan, consumer credit, mortgage loan and loans given for making investment in financial assets such as equity shares, debenture, and bond (finance). In North America North America is a continent in the Northern Hemisphere and almost entirely within the Western Hemisphere. It is bordered to the north by the Arctic Ocean, to the east by the Atlantic Ocean, to the southeast by South America and the Car ... and Europe, there are the portals which offers loan rescheduling/restructuring/consolidation via peer-to-peer lending marketplace such as Prosper Marketplace and LendingClub. Approaches; * Reduce payment amounts by extending the payment period and increasing the number of payments. * Pause payments by adding deb ... [...More Info...] [...Related Items...] |
