WHAT IS 'MORTGAGE AND REVERSE MORTGAGE'?
Answers were Sorted based on User's Feedback
Answer / priyank kaushik
the mortgage is a security for the loan that the lender
makes to the borrower. It is a transfer of an interest in
property to a lender as a security for a debt.
Reverse mortgage an arrangement in which a homeowner
borrows against the equity in his/her home and receives
regular monthly tax-free payments from the lender.
| Is This Answer Correct ? | 11 Yes | 3 No |
Answer / ganesha kumar
A mortgage is the transfer of an interest in property (or
the equivalent in law - a charge) to a lender as a security
for a debt - usually a loan of money. While a mortgage in
itself is not a debt, it is the lender's security for a
debt. It is a transfer of an interest in land (or the
equivalent) from the owner to the mortgage lender, on the
condition that this interest will be returned to the owner
when the terms of the mortgage have been satisfied or
performed. In other words, the mortgage is a security for
the loan that the lender makes to the borrower.
A reverse mortgage (or lifetime mortgage) is a loan
available to seniors, and is used to release the home
equity in the property as one lump sum or multiple
payments. The homeowner's obligation to repay the loan is
deferred until the owner dies, the home is sold, or the
owner leaves
| Is This Answer Correct ? | 0 Yes | 0 No |
Due Dates for filing of the following? Vat Returns Service tax Returns Individual Income tax returns Partnership Companies Advance tax Remittances
PLEASE EXPLAIN DEBIT NOTE & CREDIT NOTE?WITH THE FOLLOWING QUESTION? 1)IF X LTD.SOLD MATERIAL @ RS.112500/-WITH INCLUSIVE VAT @ 12.5% TO HIS SUPPLIER(CREDITOR),BUT AFTERWORD THEY FOUND THAT THE MATERIAL COMES UNDER 5% VAT RATE CATEGORY.SO HOW THEY ADJUST THEIR LOSS RS.7500/- IN THEIR BOOKS? 2)IF X LTD.SOLD MATERIAL @ RS.112500/-WITH INCLUSIVE VAT @ 12.5% TO HIS CUSTOMER(DEBTOR),BUT AFTERWORD THEY FOUND THAT THE MATERIAL COMES UNDER 5% VAT RATE CATEGORY.SO HOW THEY ADJUST THEIR LOSS RS.7500/- IN THEIR BOOKS?
what are the similarities between cost accounting and management accounting?
What do you mean by pecuniary transaction?
What is Ledger
what is subsidiary book?
differences between liabilities and assessts
Rent paid rs 2000 in Jan and feb 2009. What will the entry in Feb 1st 2009.
what do you mean by fixed asset?
25 Answers Baba Group, Capital IQ, Orchid,
Expand---------STRP
EXPAND___________NAC
WHAT IS B.E.P. CHART