Mortgage loan

A mortgage loan, also referred to as a mortgage, is used by purchasers of real property to raise funds to buy real estate; or by existing property owners to raise funds for any purpose while putting a lien on the property being mortgaged. 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).

Mortgage borrowers can be individuals mortgaging their home or they can be businesses mortgaging commercial property (for example, their own business premises, residential property let to tenants or an investment portfolio). The lender will typically be a financial institution, such as a bank, credit union or building society, depending on the country concerned, and the loan arrangements can be made either directly or indirectly through intermediaries. Features of mortgage loans such as the size of the loan, maturity of the loan, interest rate, method of paying off the loan, and other characteristics can vary considerably. The lender's rights over the secured property take priority over the borrower's other creditors which means that if the borrower becomes bankrupt or insolvent, the other creditors will only be repaid the debts owed to them from a sale of the secured property if the mortgage lender is repaid in full first.

Mortgage (disambiguation)

Mortgage may refer to:

See also

Mortgage (film)

Mortgage is a 1990 Australian drama film directed by Bill Bennett.

Plot

Dave and Tina Dodd want to buy a house. They make a contract with shifty John Napper who suggests builder George Shooks.

Production

The film was one of a series of drama documentaries produced at Film Australia for the Nine Network dealing with social issues. It was made using improvisation. Others in the series included Prejudice.

Bill Bennett described it as one of his favourite films.

References

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Crypto

Crypto or Krypto may refer to:

Cryptography and cryptanalysis

Biology and medicine

Crypto++

Crypto++ (also known as CryptoPP, libcrypto++, and libcryptopp) is a free and open source C++ class library of cryptographic algorithms and schemes written by Wei Dai. Crypto++ has been widely used in academia, student projects, open source and non-commercial projects, as well as businesses. Released in 1995, the library fully supports 32-bit and 64-bit architectures for many major operating systems and platforms, including Android (using STLport), Apple (Mac OS X and iOS), BSD, Cygwin, IBM AIX and S/390, Linux, MinGW, Solaris, Windows, Windows Phone and Windows RT. The project also supports compilation under C++03 and C++11, a variety of compilers and IDEs, including Borland Turbo C++, Borland C++ Builder, Clang, CodeWarrior Pro, GCC (including Apple's GCC), Intel C++ Compiler (ICC), Microsoft Visual C/C++, and Sun Studio.

Algorithms

Crypto++ ordinarily provides complete cryptographic implementations, and often includes less popular, less frequently-used schemes. For example, Camellia is an ISO/NESSIE/IETF-approved block cipher roughly equivalent to AES, and Whirlpool is an ISO/NESSIE/IETF-approved hash function roughly equivalent to SHA; both are included in the library.

International Cryptology Conference

CRYPTO, the International Cryptology Conference, is one of the largest academic conferences in cryptography and cryptanalysis. It is organized by the International Association for Cryptologic Research (IACR), and it is held yearly in August in Santa Barbara, California at the University of California, Santa Barbara.

The first CRYPTO was held in 1981. It was the first major conference on cryptology, and was all the more important because relations between government, industry and academia were rather tense. Encryption was considered a very sensitive subject and the coming together of delegates from different countries was unheard-of at the time. The initiative for the formation of the IACR came during CRYPTO '82, and CRYPTO '83 was the first IACR sponsored conference.

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