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A Tucson mortgage is a security interest in Tucson real property held by a Tucosn lender as a security for a debt–usually a loan of money. While a Tucson mortgage in itself is not a debt, it is the Tucson lender's security for a debt. It is a transfer of an interest in Tucson land (or the equivalent) from the owner to the Tucson mortgage lender, on the condition that this interest will be returned to the owner when the terms of the Tucson mortgage have been satisfied or performed. The Tucson mortgage is a security for the loan that the Tucson lender makes to the borrower.
A Tucson mortgage lender is an investor that lends money secured by a Tucson mortgage on Tucson real estate. In today's world, most Tucson lenders sell the loans they write on the secondary mortgage market. When they sell the Tucson mortgage, they earn revenue called Service Release Premium. Typically, the purpose of the Tucson loan is for the borrower to purchase that same Tucson real estate. The Tucson borrower, known as the mortgagor, gives the Tucson mortgage to the lender, known as the mortgagee. As the Tucson mortgagee, the Tucson lender has the right to sell the Tucson property to pay off the loan if the borrower fails to pay.
The Tucson mortgage runs with the land, so even if the borrower transfers the property to someone else, the Tucson mortgagee still has the right to sell it if the borrower fails to pay off the loan. So that a Tucson buyer cannot unwittingly buy Tucson property subject to a mortgage, Tucson mortgages are registered or recorded against the title with an Arizona government office, as a public record. The Tucson borrower has the right to have the Tucson mortgage discharged from the title once the debt is paid.
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Nova Home Loans Mortgage Company :: 6245 E. Broadway, Ste. 210 :: Tucson :: AZ :: 85711
National City Mortgage Company :: 1745 E. River Rd., Ste. 275 :: Tucson :: AZ :: 85718
Ventana Mortgage Corp. Company :: 6601 E. Grant Rd., Ste. 100 :: Tucson :: AZ :: 85715
M & I Bank Mortgage Company :: 4380 N. Campbell Ave., Ste. 100 :: Tucson :: AZ :: 85718
Consolidated Lenders Mortgage Company :: 2251 E. Grant Rd. :: Tucson :: AZ :: 85719
Long Mortgage Company :: 900 E. River Rd. :: Tucson :: AZ :: 85718
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