If you are employed in the mortgage industry then you definitely discover how important good mortgage leads are. You are also alert to the growing popularity of the reverse mortgage. This kind of loan will continue to grow as the child boomers age and are faced with the daunting task of having enough money to survive throughout their retirement years. If you want your mortgage business to thrive, then it's important that you find a great source for reverse mortgage leads.
A mortgage loan, also referred to as a mortgage, is used by purchasers of real property to raise money to buy the property to be purchased or by existing property owners to raise funds for any purpose. The loan is "secured" on the borrower's property. This means that a legal mechanism is put in place which allows the lender to take possession and sell the secured property ("foreclosure" or "repossession") to pay off the loan in the event that the borrower defaults on the loan or otherwise fails to abide by its terms. The word mortgage is derived from a "law French" term used by English lawyers in the Middle Ages meaning "death pledge", and refers to the pledge ending (dying) when either the obligation is fulfilled or the property is taken through foreclosure. Mortgage can also be described as "a borrower giving consideration in the form of a collateral for a benefit (loan).