Definition: A special form of secured loan where the purpose of the loan must be specified to the lender, to purchase assets that must be fixed (not movable) property, such as a house or piece of farm land. The assets are registered as the legal property of the borrower but the lender can seize them and dispose of them if they are not satisfied with the manner in which the repayment of the loan is conducted by the borrower. Once the loan is fully repaid, the lender loses this right of seizure and the assets are then deemed to be unencumbered.

Alright class, settle down, let’s take a look! Today we're tackling a word that can seem a bit complex, but it’s really quite straightforward once you break it down. We’re talking about mortgage . Let me rhyme it for you, just to make it stick: “A mortgage is a loan, quite quick!” Now, let’s unpack the dictionary definition – that's a lot of words, I know! But here’s what it really means: Essentially, a mortgage is a special kind of loan. It's not just any old borrowing you might do. It has to be for something specific and important - like buying a home or farmland, you see? Think of it like this: You want a house – a fixed place, can’t move it around, right? You need money to buy it. The lender, the bank, is lending you that money. But they want some security, a guarantee they'll get their money back! That’s where “secured” comes in. This means the house itself becomes the security. You own the house, but the lender has a right to it if you don’t pay on time. It’s called "unencumbered" – meaning without restrictions - once you've paid off the loan, that right disappears. Let’s recap with another little rhyme: “The house is pledged, the payment’s judged!” Key takeaways: Purpose-Driven: Mortgages are always for buying fixed property – houses, farms, land. Secured Loan: The asset (the house) secures the loan. Risk & Reward: If you don't pay back what you borrowed, the lender can take possession of the property to recover their money. Do you have any questions about this? Don’t be shy! Let’s discuss how mortgages work and why they are such a big part of buying a home. Now, who can tell me in their own words what a mortgage is ?

Definition: A special form of secured loan where the purpose of the loan must be specified to the lender, to purchase assets that must be fixed (not movable) property, such as a house or piece of farm land. The assets are registered as the legal property of the borrower but the lender can seize them and dispose of them if they are not satisfied with the manner in which the repayment of the loan is conducted by the borrower. Once the loan is fully repaid, the lender loses this right of seizure and the assets are then deemed to be unencumbered.

Alright class, settle down now, let’s dive into today's show! We’re tackling ‘mortgages,’ a word that can seem quite grand, But let’s break it down with a rhyme, so you understand. Think of it like this: You want a home, it’s true, A place to rest and build your life anew. A mortgage is a loan, a special kind you see, To buy fixed property – like a house, for you and me! It's secured , that means the lender has a claim, Protecting their investment, it’s part of the game. You tell them clearly what you plan to do, Like buying this house, shiny and new! The property’s registered, legally it’s yours, But if repayments falter, behind closed doors... The lender can step in, with a serious plea, To reclaim the asset – that's their right, you agree! "Unencumbered” is the key, when the loan is paid, The lender releases it, no longer swayed. It’s like unlocking chains, setting the property free, No longer subject to their ownership decree! So remember this rhyme, let it stick in your head, A mortgage secures a home, carefully led. Do you have any questions? Don't be shy, let's explore, Mortgages and finance – knowledge we adore!

Definition: [Some] also there were that said, We have mortgaged our lands, vineyards, and houses, that we might buy corn, because of the dearth.

Explanation: Okay, let’s break down this verse from Nehemiah 5:3. It’s a really important story about how things went wrong in a city and what led to it. Here's a simple explanation: The Basic Situation: Dearth (Lack): The city of Jerusalem was experiencing a severe shortage of food – specifically, corn (a staple crop). It was like there wasn’t enough food for everyone. Mortgaging Lands & Homes: People in the city were borrowing money to buy more corn. They borrowed from lenders and used their land and houses as collateral (something they could lose if they couldn't repay the loan). What Happened Next: “Some” Said It: A group of people within the city said, “We’ve mortgaged our lands and homes!” This means they had borrowed money to buy corn. The Problem: Because there wasn’t enough food, this borrowing led to a really bad situation. The land and houses were essentially lost – they weren't worth much anymore because they weren't used for producing food. In short, the verse describes a situation where people borrowed money to buy food, but that led to losing their property. What it’s teaching us: This story is a reminder of a serious problem: borrowing without proper planning and considering the consequences can have devastating results. It also shows how important it is to be responsible with our finances. --- Do you want me to: Explain another verse? Give you more context about Nehemiah’s situation? Talk about the broader themes of this story (like responsibility, honesty, and consequences)?

Definition: Common directory name

C:/2nd-mortgage/

Definition: Common directory name

C:/423-Mortgage/

Definition: Appraisers are professionals who specialize in valuing and assessing property, real estate assets, or other types of tangible and intangible property. These individuals often work with property owners, developers, and mortgage lenders to determine the fair market value of a property based on its physical condition, age, location, and any relevant factors such as taxes, insurance, or potential improvements. Appraisers typically use various methods for valuing properties, including comparative market analysis, appraisals using professional valuation software,

apprisers

Definition: The term "assignor" is a legal term in English. It refers to a person who receives an assignment of property or rights from another party, such as a landlord or a tenant. In this context, it typically involves transferring ownership or control over the property to someone else, and can be used in various legal contexts including leases, mortgages, and real estate transactions. The term is often used in the context of property law, where it refers to the process by which an assignor transfers their

assignor

Definition: "Awarrant" is a phrase that refers to an agreement or contract between two parties, typically for goods or services. It is often used in business transactions, where one party (the "seller") agrees to deliver goods or services to another party (the "buyer"). The buyer then pays the seller for those goods or services. The term can also be applied to other types of agreements, such as leases, mortgages, and loans. In these cases, the agreement is typically written out in a

awarrant

Definition: In finance, a "benjamin" refers to the interest rate on a certain type of investment or loan. This is often used in the context of fixed-rate loans, such as mortgages and credit cards. For example, if you have a 30-year mortgage with an annual interest rate of 5%, your monthly payment would be based on the principal amount outstanding plus the current market interest rate. The benjamin on this loan is calculated by multiplying the principal amount by the annual percentage rate (

benjamins

Definition: Betaxed is a financial term that refers to an individual who has purchased a house but chooses not to live in it due to a lack of affordability or because they are unable to afford the mortgage payments. This could be due to factors such as unemployment, income loss, or other economic issues. The term "betaxed" suggests that the person is financially stable and does not need to rely on their savings for housing, but they choose to live in the house rather than pay off the mortgage. This

betaxed