What is a Mortgage Broker? | Marimark Mortgage in Florida, Virginia, PA
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A mortgage loan or, simply, mortgage (/mrd/) is used either by purchasers of real property to raise funds to buy real estate, or alternatively by existing property owners to raise funds for any.
The mortgage lets the lender take the home if you don’t pay. Read more on mortgages. A mortgage, or deed of trust in some states, is a legal document you sign when buying or refinancing a home that gives your lender the right to take the property if you don’t repay the loan as agreed.
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What is a mortgage broker? Even if you are not a first time buyer, when you apply for a mortgage, the whole procedure can seem confusing and overwhelming. A mortgage broker helps you understand the mortgage process and will try to get you the best deal. They are your guide through the daunting.
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Learn how liens and second mortgages get paid off in foreclosure, and your liability for the underlying debt afterwards. Read on to learn what happens to your second mortgage, home equity loan, and the judgment lien in the foreclosure.
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