Latest Answer: Loan: The borrower initially receives an amount of credit from the lender, which they pay back, usually but not always in regular installments, to the lender.
Mortgage: Mortgage is seen as the standard method by which individuals and businesses can purchase residential and commercial real estate without the need to pay the full value immediately.
Latest Answer: The owner of the house have to pay off the mortgage when the home sells. Till the agreement is signed the mortgage company will not be notified
