Bethany Beach Mortgages
A mortgage involves the transfer of an interest in land as security for a loan or other obligation. It is the most common method of financing real estate transactions. The mortgagor is the party transferring the interest in land. The mortgage, usually a bank is the provider of the loan or other interest given in exchange for the security interest. A mortgage is paid in installments that include both interest and a payment on the principle amount that was borrowed. The mortgagor and the mortgagee generally have the right to transfer their interest in the mortgage. Mortgages are regulated by federal or state law or agencies depending on under whose law they were established.
