Portland Lending
Portland, Oregon
At Portland Lending, future home-buyers will have access to a wide range of financing home loan and mortgage options that can be adapted to their household budget, their income, and their credit history.
Portland according to Wikipedia, the free encyclopedia
Portland is the largest city in the U.S. state of Oregon, and county seat of Multnomah County. It straddles the Willamette River immediately south of its confluence with the Columbia River. Portland is the third largest city in the Pacific Northwest after Seattle, Washington and Vancouver, British Columbia, with a population of 556,370 (July 1, 2005 estimate). Approximately 2 million live in the surrounding metropolitan area (MSA), the 24th-largest in the U.S.
Portland is known as "The City of Roses" or "Rose City" -- its climate is ideal for their cultivation, and the city has many rose gardens, including the International Rose Test Garden in Washington Park. Other nicknames include "Stumptown" (due to early logging to clear land for development), "Bridgetown" (due to its numerous bridges), "Puddletown" (due to the rainy weather), "River City" (due to its proximity to the Willamette and Columbia), "PDX" (after the city's airport code), and "P-town".
Lending
Lending (credit) according to Wikipedia, the free encyclopedia
Credit as a financial term, used in such terms as credit card, refers to the granting of a loan and the creation of debt. Any movement of financial capital is normally quite dependent on credit, which in turn is dependent on the reputation or creditworthiness of the entity which takes responsibility for the funds.
A similar usage is in commercial trade, where credit is used to refer to the approval for delayed payments for goods purchased. Sometimes if a person has financial instability or difficulty, credit is not granted. Companies frequently offer credit to their customers as part of the terms of a purchase agreement. Organizations that offer credit to their customers frequently employ a credit manager.
Credit is denominated by a unit of account. Unlike money (by a strict definition), credit itself cannot act as a unit of account. However, many forms of credit can readily act as a medium of exchange. As such, various forms of credit are frequently referred to as money and are included in estimates of the money supply.
Credit is also traded in the market. The purest form is the "Credit Default Swap" market, which is essentially a traded market in credit insurance. A credit default swap represents the price at which two counterparties will exchange this risk -- the protection "seller" takes the risk of default of the credit in return for a payment, commonly denoted in basis points (one basis point being 1/100 of a percent) of the notional amount to be referenced, while the protection "buyer" pays this premium and in the case of default of the underlying (a loan, bond or other receivable), delivers this receivable to the protection seller and receives from the seller the par amount (i.e., is made whole).
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Mortgages
Mortgage according to Wikipedia, the free encyclopedia
A mortgage is a method of using property (real or personal) as security for the payment of a debt.
The term mortgage (from Law French, lit. death vow) refers to the legal device used in securing the property, but it is also commonly used to refer to the debt secured by the mortgage.
In most jurisdictions mortgages are strongly associated with loans secured on real estate rather than other property (such as ships) and in some cases only land may be mortgaged. Arranging a mortgage is seen as the standard method by which individuals or businesses can purchase residential or commercial real estate without the need to pay the full value immediately.
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Home Equity Loans
Home Equity Loan according to Wikipedia, the free encyclopedia
A home equity loan is a type of loan in which the borrower uses the equity in his home as collateral. These loans are sometimes useful for families to help finance major home repairs, medical bills or college educations. A home equity loan creates a lien against the borrower's house.
Home equity loans are most commonly second position liens (second trust deed), although they can be held in first or, less commonly, third position. Most home equity loans require good to excellent credit history, and reasonable loan-to-value and combined loan-to-value ratios. Home equity loans come in two types, closed end and open end.
Both are usually referred to as second mortgages, because they are secured against the value of the property, just like a traditional mortgage. Home equity loans and lines of credit are usually, but not always, for a shorter term than first mortgages. In the United States, it is sometimes possible to deduct home equity loan interest on one's personal income taxes.
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