What is a Mortgage Agreement ?
When you apply for a home loan and your loan is passed and you are closing on it, then you have to go through so many documents to read through and sign over. One of the agreements in them is Mortgage Agreement. A mortgage is not the loan money that transfers hands from the lender to the seller in a real estate transaction. It’s the interest in the home itself. This agreement is made between the lending bank and the borrower.
Uses of Mortgage Agreement
- It is a binding contract which is required for just about any basic mortgage loan for home.
Contract Execution
These agreements state that the borrower gets the money which he/she required for house and bank gets the lien to the property. LegalRaasta is at your service to help you to develop this agreement with all the legal proceedings.
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