REAL ESTATE LAW | Frequently Asked Questions

QUESTION: How do mortgages work?

Contact a Kansas real estate lawyer representing clients in Salina, KS today to schedule your free initial consultation.


ANSWER

A mortgage is a loan provided by a bank or other lender, where the collateral is real estate to be purchased using that loan. State laws often vary in their interpretation of mortgage procedure. In addition, mortgages can carry a fixed or adjustable rate of interest. Some government programs provide mortgage assistance to veterans or other qualified individuals. In addition, real estate owners can take on additional mortgages to meet financial needs. Any mortgage is open to foreclosure if the real estate owner fails to make payments.


Kansas lawyer / attorney representing clients in Salina, KS, zoning / abstract law firm - If you would like to schedule a free initial consultation regarding your real estate case, please contact the Eschmann & Pringle, P.A at (800) 952-0566 or complete our inquiry form.