- Street: 3200 Roblin Boulevard Winnipeg, Manitoba R3R 0C3
- City: Winnipeg
- Province/State: Manitoba
- Country: Canada
- Zip/Postal Code: R3R 0C3
- Listed: February 18, 2016 12:08 pm
- Expires: This ad has expired
A mortgage lender is an investor that lends money secured by a mortgage on real estate. In today’s world, most lenders sell the loans they write on the secondary mortgage market. When they sell the mortgage, they earn revenue called Service Release Premium. Typically, the purpose of the loan is for the borrower to purchase that same real estate. As the mortgagee, the lender has the right to sell the property to pay off the loan if the borrower fails to pay.
The mortgage runs with the land, so even if the borrower transfers the property to someone else, the mortgagee still has the right to sell it if the borrower fails to pay off the loan. So that a buyer cannot unwittingly buy property subject to a mortgage, mortgages are registered or recorded against the title with a government office, as a public record. The borrower has the right to have the mortgage discharged from the title once the debt is paid.
For more information please contact
Vertuity Mortgage Inc
3200 Roblin Boulevard, Winnipeg, Manitoba, R3R 0C3
Ph: 204.888.HOME (4663)/ Fax: 1.888.245.9717
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Information about the ad poster
- Listed by: vertuity4hlp
- Member Since: November 20, 2015
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