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What is a Quitclaim Deed?

A Quitclaim Deed works by allowing the owner of a property to quit their claim on it and pass interest to another individual. A good example of this is where a couple own a property and one of them gives up their interest and hands it to the other. In its simplest terms it is a piece of paper that transfers interest in land from one individual to another one. The person who is handing over their interest is referred to as the grantor and the person receiving it will be referred to as the grantee. This deed will sometimes be wrongly referred to as a ‘quick claim deed’.

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What is an Underwater Mortgage?

underwater mortgageIf you follow the newspapers you will probably have heard the term “underwater mortgage”. This has nothing to do with owning property beneath the waves but instead refers to a situation where the amount you owe on a property is more than the value of the property itself. Since the economic meltdown a few years ago there have been a lot of people who have found themselves in this unenviable situation.

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What are Financial Derivatives?

financial derivativesThe simplest way to explain a derivative would be to say that it is a financial agreement between two parties. It derives its value from a real good or type of stock. The value of these financial derivatives will be based on the future expected price for something. So in a lot of cases the person selling the derivative will agree to provide something in the future at a price that is agreed upon now. Some people will use this as a form of investment in the hope of making a lot of money in the future.

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How to Choose the Best Possible Mortgage?

Owning their own home is a goal for many people. This not only means that they will have accommodation that really feels like theirs but it often makes a lot more sense financially. Paying rent on a house can work out very expensive over a long period and at the end you are left with nothing. Many people also view purchasing a property as a good investment. The vast majority of us will not have enough money to pay for a house out of our own savings so we will need to borrow the money to this; the most popular way of doing this is by getting a mortgage.

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