True or False. 1. The loan is considered fully paid and the debtor is released from the obligation, when the creditor considered the loan as donation. 2. Maturity date is the date in which the debtor has the legal and absolute right to collect payment. 3. Only the creditor has the right to collect from the debtor, and this right is non-transferrable. 4. In a single credit transaction, there can be more than one debtors. 5. The debtor is primarily liable to pay the loan.
Mortgages
A mortgage is a formal agreement in which a bank or other financial institution lends cash at interest in return for assuming the title to the debtor's property, on the condition that the obligation is paid in full.
Mortgage
The term "mortgage" is a type of loan that a borrower takes to maintain his house or any form of assets and he agrees to return the amount in a particular period of time to the lender usually in a series of regular equally monthly, quarterly, or half-yearly payments.
True or False.
1. The loan is considered fully paid and the debtor is released from the obligation, when the creditor considered the loan as donation.
2. Maturity date is the date in which the debtor has the legal and absolute right to collect payment.
3. Only the creditor has the right to collect from the debtor, and this right is non-transferrable.
4. In a single credit transaction, there can be more than one debtors.
5. The debtor is primarily liable to pay the loan.
6.
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