[Jsight-prgusr] NUMBER ONE Success System

[Tommy Lee]

http://www.noss123.com/

According to Anglo-American property law a *mortgage* occurs when an owner
(usually of a fee simple interest in realty) pledges his interest as
security or collateral for a loan. Therefore, a mortgage is an encumbrance
on property just as an easement would be, but because most mortgages occur
as a condition for new loan money, it has become known as a the generic term
for a loan secured by such real property. As with other types of loans,
mortgages have an interest rate and are scheduled to amortize over a set
period of time; typically 30 years. All types of real property can, and
usually are, secured with a mortgage and bear an interest rate that is
supposed to reflect the lender's risk.

Mortgage lending is the primary mechanism used in many countries to finance
private ownership of residential property. For commercial mortgages see the
separate article. Although the terminology and precise forms will differ
from country to country, the basic components tend to be similar:

   - Property: the physical residence being financed. The exact form of
   ownership will vary from country to country, and may restrict the types of
   lending that are possible.
   - Mortgage: the security created on the property by the lender, which
   will usually include certain restrictions on the use or disposal of the
   property (such as paying any outstanding debt before selling the property).
   - Borrower: the person borrowing who either has or is creating an
   ownership interest in the property.
   - Lender: any lender, but usually a bank or other financial
   institution.
   - Principal: the original size of the loan, which may or may not
   include certain other costs; as any principal is repaid, the principal will
   go down in size.
   - Interest: a financial charge for use of the lender's money.

Foreclosure or repossession: the possibility that the lender has to
foreclose, repossess or seize the property under certain circumstances is
essential to a mortgage loan; without this aspect, the loan is arguably no
different from any other type of loanBy participating in* Number One Success
System* and willingly giving a gift to one or more of its participants, the
donor of such a gift has chosen to extinguish all rights to the gift and
cannot rightfully expect or depend on *Number One Success System* or any of
its participants for any type of monetary compensation.
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