Nonetheless, a mortgagee is well advised to remain respectful of their duty to preserve the value of the mortgaged property both for their own interests and under their potential liability to the mortgagor.
42.
The difference between an ordinary mortgage and a reverse mortgage, Ms . Belling said, is that with an ordinary mortgage the homeowner's equity in the mortgaged property increases as the mortgage balance decreases.
43.
The plaintiffs insisted that the mortgage had been declared inoperative and void by the district court, in dismissing Morgan's attempt to condemn the mortgaged property, and that the defendants were bound by that judgment.
44.
The Court-approved Plan of Arrangement will see secured creditors paid in full, have their secured debt assumed by a third party, or receive the mortgaged property in settlement of their secured debt, within six months.
45.
Secondly, because the legal title to the mortgaged property is not actually vested in the secured party, it means that a necessary additional step is imposed in relation to the exercise of remedies such as foreclosure.
46.
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.
47.
The Congregationalist assembly, to protect their legislative majority, beginning in 1804 had passed a series of bills limiting suffrage & ndash; including banning blacks and those with no property, or even those with mortgaged property, from voting.
48.
Examples of the other coverages are loss from forged releases of the mortgage and loss resulting from encroachments of improvements on adjoining land onto the mortgaged property when the improvements are constructed after the loan is made.
49.
Nagarathars provided that money as mortgaged loans but by the middle of the century they were becoming far less tolerant of any defaults and were insisting that failure to pay as arranged would result in the mortgaged properties being forfeited.
50.
As for the contractual aspects of the principal debt or obligation, mortgage bonds usually include clauses dealing with the repayment scheme, charges and the possibility of foreclosure, and also use and enjoyment of the mortgaged property, and maintenance and procedures.
