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What is a Mortgage? (Basic Definition)

What is a Mortgage?

A mortgage is like any other kind of loan – you borrow money, and you pay it back with interest over a period of time. But it has one key difference: it’s secured against your home. So if for any reason you can’t repay it, the lender can sell your home to recover their money.

Residential mortgages are regulated by the FSA ...

The Financial Services Authority (FSA) - was set up by the government to regulate financial services and protect consumer rights. Because they're the watchdog, all the information they provide is impartial.

The 'Moneymadeclear' section on the FSA website at www.moneymadeclear.fsa.gov.uk provides clear impartial information about financial products and services from the FSA. It aims to help you get a head start with your personal finances.

Check it out!

Comments

( 1 comment — Leave a comment )
hudmortgages
May. 15th, 2009 06:35 am (UTC)
Info about Mortgages
hey guys,
check it out http://www.eaglenationwidemortgagetx.com/reverse-mortgages/. This is one of the good mortgage companies and provides variety of services to their clients.
( 1 comment — Leave a comment )

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