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Mortgages in Canaan, CT
Canaan National Bank - Canaan, CT - Phone: (860) 824-5423
Salisbury Bank and Trust Company - Canaan - Canaan, CT - Phone: (860) 824-3070
Helpful Definition for: Mortgages
Mortgages are loans which are given by lenders to pay for the purchase of real estate property, and have a specific time period and rate of interest for the payment. The borrowers, who are known as the 'mortgagors', give the lenders, also known as the 'mortgagees', a legal asset as a security against the loan. In Canaan, the borrowers may get mortgages either from financial establishments like banks directly, or from individuals who act as mediators between the bank and the borrower.
Mortgages in Canaan vary, depending on two main categories: the time period of the loan and the interest rate of the loan. Mortgages may be for 15 or 30 years, as per the time period in Canaan. Based on the interest rates, the mortgages are either fixed or variable.
Recent Business News for: Mortgages
Supreme Court says 'unearned' fees don't violate law - Boston Herald
Supreme Court says 'unearned' fees don't violate lawBoston HeraldThe decision, handed down May 24, involved customers of Quicken Loans, the online mortgage company, who alleged that Quicken charged them “discount” fees but did not provide them lower interest rates on their mortgages, as is customary.and more »
