Mortgage and Home Loans
Nation Wide Network
Nation Wide Network
Like any other legal system, the mortgage business sometimes uses confusing jargon. Below are some terms explained in brief. If a term is not explained here it may be related to the mortgage loans rather than to the legal process.
This is the legal document that transfers ownership of unregistered land.
These are all the fees of the solicitors and governments, such as stamp duty, land registry, search fees, etc.
This means the ownership of a property and the land.
This is a legal document that records the ownership of a property and land. This is also known as a Title.
This means the ownership of the property and land for a specified period, which may be sold separately from freehold, which may be owned by another person.
This is a legal document that records the data of the rightful owner of a property or land.
This is a legal document that stated that the lender has a legal charge over the property.
In most jurisdictions, a lender may foreclose the mortgaged property if certain conditions - principally, non-payment of the mortgage loan - apply. Subject to local legal requirements, the property may then be sold. Any amounts received from the sale (net of costs) are applied to the original debt. In some jurisdictions, mortgage loans are non-recourse loans: if the funds recouped from sale of the mortgaged property are insufficient to cover the outstanding debt, the lender may not have recourse to the borrower after foreclosure. In other jurisdictions, the borrower remains responsible for any remaining debt. In virtually all jurisdictions, specific procedures for foreclosure and sale of the mortgaged property apply, and may be tightly regulated by the relevant government; in some jurisdictions, foreclosure and sale can occur quite rapidly, while in others, foreclosure may take many months or even years. In many countries, the ability of lenders to foreclose is extremely limited, and mortgage market development has been notably slower.
Seattle is often regarded as the birthplace of grunge music, and has a reputation for heavy coffee consumption; coffee companies founded in Seattle include Starbucks, Seattle's Best Coffee, and Tully's. There are also many successful independent artisanal espresso roasters and cafes. Seattle was the site of the 1999 meeting of the World Trade Organization, and the attendant demonstrations by anti-globalization activists. Researchers at Central Connecticut State University ranked Seattle the most literate city in America in 2005. Moreover, a United States Census Bureau survey showed that Seattle has the highest percentage of college graduates of any major U.S. city. Based on per capita income, Seattle ranks 36th of 522 studied areas in the state of Washington.
San Jose is the third-largest city in California, and the tenth-largest in the United States. It is the county seat of Santa Clara County. San Jose is located in Silicon Valley, at the south end of San Francisco Bay. Once a small farming city, San Jose became a magnet for suburban newcomers in new housing developments between the 1960s and the 1990s, and is now the largest city in Northern California. As of the 2007 California Department of Finance estimate, San Jose had a population of 973,672.
San Francisco is renowned for its chilly summer fog, steep rolling hills, an eclectic mix of Victorian and modern architecture, and its peninsular location surrounded on three sides by the Pacific Ocean and San Francisco Bay. Famous landmarks include the Golden Gate Bridge, Alcatraz Island, the cable cars, Coit Tower, and Chinatown.
Famous for its River Walk, the Alamo, Tejano culture, and being home to SeaWorld and Six Flags Fiesta Texas theme parks, the city is visited by 20 million tourists per year. San Antonio is also home to the first museum of Modern Art in Texas—the Marion Koogler McNay Art Museum.
The city and region are noted for strong land-use planning and investment in public transit, supported by Metro, a distinctive regional-government scheme. Portland lies in the Marine West Coast climate region, which is marked by warm summers and rainy but temperate winters. This climate is ideal for growing roses, and for more than a century Portland has been known as "The City of Roses," and has many rose gardens – most prominently the International Rose Test Garden. Portland is also known for its large number of microbreweries, and as the home of the Trail Blazers NBA basketball team.
Oklahoma City also has two amusement parks, Six Flags Frontier City theme park and White Water Bay water park. Six Flags Frontier City is a 'Old West' themed amusement park. The park also features a recreation of a western gunfight at the 'OK Corral' and many shops that line the "Western" town's main street. Frontier City also hosts a national concert circuit at its amphitheater during the summer. White Water Bay is a Six Flags Water Park located north of Will Rogers World Airport.