Welcome to the 1520 Perfect Dictionary
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| Mortgage | |
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| MORTGAGE Definition: A legal agreement by which a bank or similar organization lends you money to buy a house, etc., and you pay the money back over a particular number of years; the sum of money that you borrow. ______________________________________________________________________ * All seven elements should be in. 1. Purposeful and necessary, whatever the amount involved. 2. Terms and clauses in agreement are very clear; unambiguous. 3. No default is recorded in the repayments. And (re)payment will be completed in the lifetime of mortgagor. 4. House, etc. bought is used for the original purpose(s) it was meant for, as in an agreement (connect to #5). 5. Amount received from bank, etc. is what was applied for; adequate. 6. Lifestyle or standard of living of borrower, is not badly affected as a direct result of loan repayment (to emphasize). 7. Agreement is not transferred to a third party, during the expected lifespan of the arrangement. __________________________________ See perfect MONEYLENDER. See perfect FORECLOSURE. | |
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1520 Products was established in 2005 with the purpose of entertaining and teaching us on key and important aspects of life (such as marriage, sex, etc) through the playing of games which will allow us to laugh but at the same time pass a message of what is the right or ideal way. |
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