Released on: June 4, 2008, 5:01 am

Press Release Author: Mark Tiernan

Industry: Automotive

Press Release Summary: Mark Tiernan,Mortgage
Mortgage - What, Why, When, and How?

Press Release Body: What is a mortgage? Here\'s what The New Merriam - Webster
Dictionary definition is: \"a transfer of rights to a piece of property usu. as
security for the payment of a loan or debt that becomes void when the debt is paid.\"
That\'s as plain and simple as it gets, you pledge the property that you\'re buying to
the lender until your home loan is paid off then the mortgage is released and you
own the property free and clear. The term \"Mortgage Loan\" usually pertains to the
loan used to purchase a home.

Why and when would you need a mortgage loan? If you\'re going to enter into a real
estate purchase transaction (land, residence, or commercial) and you don\'t have the
funds available then chances are you\'ll need a mortgage loan. In times when mortgage
rates are low and return on your investments are high; you might consider a mortgage
loan to pull the equity from your home to invest. If you\'re paying a higher mortgage
rate than what\'s available on the market you might consider using a new mortgage
loan to pay off your old mortgage loan therefore lowering the amount of time to pay
off your home or lower your monthly mortgage payment. Maybe you need to take cash
out of your home for reasons that are nobody else\'s business a new mortgage loan
would be a great tool for accomplishing this.

How do you obtain a mortgage loan? This used to be a relatively difficult process
but with today\'s technology is has become a pretty simple process. First find a
mortgage consultant or lender that you\'re comfortable with (you might need to talk
to two or three); that particular individual should be able to step you through the
process of obtaining a mortgage loan without to much difficulty. The most difficult
part of this is finding the type of mortgage loan that makes sense to you as there
are several types available, read the fine print and make sure the mortgage loan you
pick is right for your wants and needs.



Web Site: http://marktiernan.studioathome.com/

Contact Details: marktiernan07@yahoo.com