Alliance Mortgage

Sam · Posted: Tue Jun 29, 2004 10:24 pm Post subject: Alliance Mortgage

Alliance Mortgage is a formal agreement between a borrower and the lender, which permits the borrower to retain possession of the property.

Features of alliance mortgage are as following:

Equity Redemption facility - It offers a borrower, the facility of equity redemption in mortgaged real property.
Ownership-Here the borrower enjoys ownership of the property.
Obligations Specification - It comes with certain stated specifications. The borrower is in default when he fails to meet other obligations specified in the bond or mortgage.
Foreclosure Criteria - Here the foreclosure is affected only if the borrower fails to make payment of the mortgage debt at the proper time.

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