mortgage deed
61assumption of mortgage — To take or acquire a mortgage or deed of trust from some prior holder. Thus, a purchaser may assume or take over the mortgage of the seller. Often this requires permission of the mortgagee. This is distinguishable from taking equity of redemption …
62Assumed mortgage — In real estate an assumed mortgage occurs when a the buyer of a real property is transferred all the obligations of the seller s mortgage.The buyer assumes all the obligations under the mortgage, just as if the loan had been made to the buyer.… …
63absolute deed as mortgage — An instrument in the form of a deed which is given effect as a mortgage. 36 Am J1st Mtg §§ 125 et seq …
64estoppel by mortgage — An estoppel operating from the recitals in the bond or the mortgage, similar to estoppel by deed. See estoppel by bond; estoppel by deed …
65once a mortgage, always a mortgage — This rule or maxim signifies that an instrument originally intended as a mortgage, and not a deed, cannot be converted into anything else than a mortgage by any subsequent clause or agreement …
66security deed — A term probably confined to the state of Georgia and there meaning a deed conveying the legal title to land as security for the payment of a debt. Upon default in payment, the holder of the debt reduces it to judgment, and the holder of the legal …
67To record a deed — Record Re*cord (r?*k?rd ), v. t. [imp. & p. p. {Recorded}; p. pr. & vb. n. {Recording}.] [OE. recorden to repeat, remind, F. recorder, fr. L. recordari to remember; pref. re re + cor, cordis, the heart or mind. See {Cordial}, {Heart}.] 1. To… …
68trust deed — a written instrument legally conveying property to a trustee, such as a bank, often for the purpose of securing a mortgage or promissory note. Also called deed of trust. [1745 55] * * * …
69conventional mortgage loan — noun A fixed or adjustable rate, fully amortized loan secured by a mortgage or deed of trust that is not insured or guaranteed by an agency of the federal government (such as FHA or VA). (Source: Office of Thrift Supervision [ …
70Delinquent Mortgage — A mortgage for which the borrower has failed to make payments as required in the loan documents. If the borrower can t bring the payments current within a certain time period, the lender may initialize foreclosure proceedings. Foreclosure is a… …
