law school statutes law schools
legal online law services research
A rule of conduct or procedure established by custom, agreement, or authority. The body of rules and principles governing the affairs of a community and enforced by a political authority; a legal system: international law. The condition of social order and justice created by adherence to such a system: a breakdown of law and civilized behavior. A set of rules or principles dealing with a specific area of a legal system: tax law; criminal law. A piece of enacted legislation. What is Law?
Mortgage Loan Types

There are many types of mortgage loans. The two basic types of amortized loans are the fixed rate mortgage (FRM) and adjustable rate mortgage (ARM).

In a FRM, the interest rate, and hence monthly payment, remains fixed for the life (or term) of the loan. In the US, the term is usually for 10, 15, 20, or 30 years. In the UK the fixed term can be as short as five years, after which the loan reverts to a variable rate.

In an ARM, the interest rate will periodically (annually or even monthly) adjust up or down to some market index. Adjustable rates transfer part of the interest rate risk from the lender to the borrower, and thus are widely used where unpredictable interest rates make fixed rate loans difficult to obtain. Since the risk is transferred, lenders will usually make the initial interest rate of the ARM's note anywhere from 0.5% to 2% lower than the average 30-year fixed rate.

A partial amortization or balloon loan is similar to a FRM, but the balance is due at some point short of the full term.

Other loan types:

term loan or interest-only loan
equity loan
blanket loan
package loan
wraparound mortgage
seasoned mortgage
reverse mortgage
budget loan
deed of trust
bridge loan

Islamic mortgages
Islamic Sharia law prohibits the payment or receipt of interest, which means that practising Muslims cannot use conventional mortgages. However, real estate is far too expensive for most people to buy outright using cash: Islamic mortgages solve this problem by having the property change hands twice. In one variation, the bank will buy the house outright and then act as a landlord. The homebuyer, in addition to paying rent, will pay a contribution towards the purchase of the property. When the last payment is made, the property changes hands.

An alternative scheme involves the bank reselling the property according to an installment plan, at a price higher than the original price.

In the United Kingdom, HSBC was the first major bank to offer Islamic mortgages.

“Are Hot Flashes, Sudden Mood Swings,
Low Sex Drive and Other Frustrating
Menopausal Symptoms Affecting You,
Someone You Know or the Woman You Love?”

Dear health-conscious friend,

Is your relationship or marriage suffering because of (your) sudden mood swings, depression or low sex drive?

Do you know someone that’s struggling with hot flashes and other menopausal symptoms but just doesn’t know it?

Are you looking for a NATURAL AND SAFE way to manage, reduce and alleviate your menopausal symptoms?

If you’ve answered YES to any of these questions – then click here right now to take advantage of our proven 14-day trial sample for only $3.97!

Click Here

You see, it’s been proven by the National Institute of Health through a well-known study called the “Women’s Health Initiative” that using HORMONE REPLACEMENT THERAPY
can result in the following side effects:

1. Increased risk for BREAST CANCER
2. Thickening of the endometrial lining in your
uterus
3. 29% increased risk for heart disease
4. 26% higher risk for invasive breast cancer
5. 41% increased risk for stroke or blood clots

For all these reasons click here to discover what the National Institute of Health did next.

Plus…

Learn how you, someone you know or the woman you love can safely overcome hot flashes, sudden mood swings, depression, low sex drive and other frustrating menopausal symptoms for only $3.97!

With that in mind click here right now. You’ll be glad you did.

Click Here

You’ll be glad you did.

Site Credits Privacy © 2004 morelawinfo.com  
Яндекс.Метрика