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 linkmanager1
Joined: 09 Mar 2007
Posts: 22
13.72 Dollars($)
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 Posted: Mon Mar 12, 2007 3:19 am Post subject: What is mortgage Loan in actual? |
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Mortgage loans are long term loans.These loans are provide against property to earn interest income. The interest rate in mortgage may change from time to time and it may be fixed too. A mortgage is the transfer of an interest in specific immovable property for the purpose of securing the payment of money advanced or to be advanced by way of loan, an existing or future debt, or the performance of an engagement which may give rise to a pecuniary liability.
[Edited by Sam as per forum rules. Thanks.]
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whatispecuniaryliability
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| Posted: Mon Mar 12, 2007 1:04 pm Post subject: |
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linkmanager1,
| Quote: | | or the performance of an engagement which may give rise to a pecuniary liability. |
what is pecuniary liability? |
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hailwood
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| Posted: Mon Mar 12, 2007 2:53 pm Post subject: |
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Pecuniary Liability -
A monetary obligation to make good any destroyed, lost or damaged property resulting because of neglect or fault. Such monetary obligation can also result under conditions mentioned in a contract. |
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