mortgage companies flo: A Quick Description On Mortgage Companies - 03/13/12 01:48 AM
A mortgage is a loan paid to a borrower against some asset of a given value, for example property. This loan is paid in installments over a given period of time and in case the borrower is unable to pay back the loan amount, the lender can recover their money by selling the property quoted in the agreement. Therefore mortgage companies act as the intermediaries between the lenders and the borrowers.
Usually, banks have acted as the mortgage companies but with time this market has grown such that more brokers are now involved that is concentrated on this sector alone. The … (0 comments)