USA HISTORY

Detailed explanation-1: -A mortgage loan agreement sets the conditions of the agreement between a bank and a borrower. When marked, the agreement gives the borrower access to the money. Such an agreement also gives the moneylender the right to claim the sold property if the borrower doesn’t pay the loan’s installments.

Detailed explanation-2: -The home loan terms and conditions are the basis on which two parties, namely you, the borrower, and the lender, agree to a set of terms for the repayment and disbursal of the loan. The borrower first signs the home loan agreement to ensure you are ready to abide by the terms as defined in the agreement.

Detailed explanation-3: -A loan agreement, sometimes used interchangeably with terms like note payable, term loan, IOU, or promissory note, is a binding contract between a borrower and a lender that formalizes the loan process and details the terms and schedule associated with repayment.

Detailed explanation-4: -Mortgage is a transfer of the demised premises and hence where the lease deed provides the permission of the lessor shall be obtained before any assignment or transfer of the property, it shall be incumbent upon the lessee to obtain prior permission of the lessor to mortgage the premises.