Real Estate Mortgages in Pennsylvania
A
mortgage involves the transfer of an interest in land as security
for a loan or other obligation. It is the most common method
of financing real estate transactions. The mortgagor is the
party transferring the interest in land. The mortgage, usually
a bank is the provider of the loan or other interest given
in exchange for the security interest. A mortgage is paid
in installments that include both interest and a payment on
the principle amount that was borrowed. The mortgagor and
the mortgagee generally have the right to transfer their interest
in the mortgage. Mortgages are regulated by federal or state
law or agencies depending on under whose law they were established.
