A Florida mortgage is an instrument of financial leverage. When you take out a mortgage, this is a lot different than taking out a loan. When you "mortgage something" in terms of the verb of the word, what you're doing is you're taking an asset, and you're borrowing against that asset. If you're going to get into the semantics of the word, and indeed the implied legalities of the word, it's not actually just a loan, it's not technically even a debt, but it's an arrangement. It's a financial arrangement, in which there's a strict time line and a game plan, so to speak; there's a definite to what's agreed to transpire. Home Florida mortgage products have come under some scrutinize in recent years, and is at the heart of the reforms that are taking place in 2010, in the United States.
Mortgages were taken out in prior years, with applicants being accepted for various mortgage arrangements with big firms, without actually satisfying the practices dictated by the industry's best practices guides. Many Florida mortgage products have actually placed a number of home owners under water, and from all of that, lessons have been learned; a good deal's been learned about consumers, about home buyers, about speculators, and the market's better for it. Today, the mortgage markets are a lot more in line with reality, one could argue, and products that are pitched and promoted at the big commercial banks are largely on point with their marketing and targeting; this is somewhat different from behavior of earlier years, some would say.