Key Difference – Deed in Lieu vs Foreclosure Deed in lieu and foreclosure are two similar aspects with slight variations and are often confused for the same reason. As such, it becomes important to clearly distinguish between the two. The key difference between deed in lieu and foreclosure is that a deed in lieu refers […]
Difference Between Auction and Foreclosure
Key Difference – Auction vs Foreclosure Auction and foreclosure are two transaction options where both buyers and sellers can obtain the maximum benefits. The key difference between auction and foreclosure is that auction is a process of buying and selling goods or services through bidding where the item is sold to the highest bidder whereas foreclosure is the […]
Difference Between Interest Only and Capital Repayment Mortgage
Interest Only vs Capital Repayment Mortgage Mortgages are a common type of option used to borrow funds by the use of an asset/property as security. Interest only and capital repayment mortgage are two different types of repaying the mortgage. The key difference between interest only and capital repayment mortgage is that interest only mortgages […]
Difference Between Asset Backed Securities and Mortgage Backed Securities
Key Difference – Asset Backed Securities vs Mortgage Backed Securities Asset backed and mortgage backed securities are two types of investments where securities are pooled and sold to a group of investors. The structure of both are similar in nature and the key difference between asset backed securities and mortgage backed securities depends on […]
Difference Between Bank Owned and Foreclosure
Bank Owned vs Foreclosure Foreclosed homes and bank owned homes (or REO) are terms used often in the Property market and an understanding on the difference between bank owned and foreclosure is important for those dealing with buying and selling properties. Foreclosure and bank owned homes are homes that have been repossessed by a bank […]
Difference Between Mortgage and Home Equity Loan and Home Loan
Mortgage vs Home Equity Loan vs Home Loan Mortgage and home loan are terms that are used interchangeably and, therefore, refer to the same thing. However, a home equity loan is very much different to a mortgage, as it is a second mortgage taken on the house or real estate property, taking into consideration […]
Difference Between Mortgage and Deed of Trust
Mortgage vs Deed of Trust Both deeds and mortgages use documents that are very similar to one another in that they perform the same function which is securing loan repayments. Loan repayments are secured through placing liens on properties, whereby the lender has the right to sell the property and recover losses if the […]
Difference Between Charge, Mortgage and Pledge
Charge vs Mortgage vs Pledge Charges, mortgages, and pledges are quite similar to one another in that they are all security interests that banks use to provider lender with security over the borrower’s assets. There are, however, a few differences between them in terms of the ownership of the asset when loans are taken […]
Difference Between Mortgage and Hypothecation
Mortgage vs Hypothecation Mortgages and hypothecation are terms that are frequently used to explain loans that are taken out by individuals for the purpose of financing various assets. The similarity between the two is that in order for the loan to be granted an asset must be pledged to the bank; however, the ownership […]
Difference Between Mortgage Rate and APR
Mortgage Rate vs APR Mortgage rates and APR are both information that are provided to a borrower when taking out a mortgage loan. Since both rates are provided to the borrower when applying for a loan, many loan applicants are confused about how these rates are related to each other. The article offers a […]