Mortgage Lending and Foreclosures in Immigrant Communities Form

Instructions and help about Mortgage Lending And Foreclosures In Immigrant Communities

in this lesson we're going to break down the mortgage right so step one big picture what is a board is well of course a mortgage is a security device used to secure repayment of a debt right so a really simple definition probably the best way to visualize this though is to put yourself in the position of the lender for a second right imagine that you're a lender and you're going to loan somebody millions of dollars to go purchase some piece of real estate maybe a house maybe it's a commercial building you know maybe it's just a piece of land whatever it is right you're going to loan somebody millions of dollars right before you do this right as a lender before you just hand over a million dollars or millions of dollars to a person right that you've never met before that you maybe don't have that much information about right what are you going to want to do who you're going to want to have some security here I mean what if this person just takes that million dollar loan you've given the