我国商业银行个人住房贷款的风险及防范外文文献及翻译.doc

精品文档 可编辑 我国商业银行个人住房贷款的风险及防范外文文献及翻译 Mortgage Loan A mortgage loan is a loan secured by real property through the use of a mortgage note which evidences the existence of the loan and the encumbrance of that realty through the granting of a mortgage which secures the loan However the word mortgage alone in everyday usage is most often used to mean mortgage loan The word mortgage is a Law French term meaning death contract meaning that the pledge ends dies when either the obligation is fulfilled or the property is taken through foreclosure[1] A home buyer or builder can obtain financing a loan either to purchase or secure against the property from a financial institution such as a bank either directly or indirectly through intermediaries Features of mortgage loans such as the size of the loan maturity of the loan interest rate method of paying off the loan and other characteristics can vary considerably In many jurisdictions though not all Bali Indonesia being one exception[2] it is normal for home purchases to be funded by a mortgage loan Few individuals have enough savings or liquid funds to enable them to purchase property outright In countries where the demand for home ownership is highest strong domestic markets have developed Mortgage loan basics Basic concepts and legal regulation According to Anglo-American property law a mortgage occurs when an owner usually of a fee simple interest in realty pledges his or her interest right to the property as security or collateral for a loan Therefore a mortgage is an encumbrance limitation on the right to the property just as an easement would be but because most mortgages occur as a condition for new loan money the word mortgage has become the generic term for a loan secured by such real property As with other types of loans mortgages have an interest rate and are scheduled to amortize over a set period of time typically 30 years All types of real property can be and usually are secured