Add
Thursday, August 17, 2023
A secured creditor
A secured creditor has a security or charge over some or all of the debtor's assets, to provide reassurance (thus to secure him) of ultimate repayment of the debt owed to him. This could be by way of, for example, a mortgage, where the property represents the security.
An unsecured creditor does not have a charge over the debtor's assets.[2]
The term creditor is frequently used in the financial world, especially in reference to short-term loans, long-term bonds, and mortgage loans. In law, a person who has a money judgment entered in their favor by a court is called a judgment creditor.
The term creditor derives from the notion of credit. Also, in modern America, credit refers to a rating which indicates the likelihood a borrower will pay back their loan. In earlier times, credit also referred to reputation or trustworthiness.
Subscribe to:
Post Comments (Atom)
zillow:%20Real%20Estate
Zillow: Real Estate, Apartments, Mortgages & Home Values The leading real estate marketplace. Search millions of for-sale and rental lis...
-
Flat-fee real estate agents charge a seller of a property a flat fee, $500 for example,[11] as opposed to a traditional or full-service rea...
-
During the mortgage loan approval process, a mortgage loan underwriter verifies the financial information that the applicant has provided as...
-
Real estate is property consisting of land and the buildings on it, along with its natural resources such as growing crops (eg. timber), min...
No comments:
Post a Comment