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— [Voice over] What I want to do in this video is explained what a mortgage is. I think most of us have at least a general sense of it, but even better than that, actually go into the numbers and understand a little of what you are actually doing when you're paying a mortgage, what it's made up of and how much of it is interest versus how much of it is actually paying down the loan. Let's just start with a little example. Let's say that there is a house that I like. Let's say that that is the house that I would like to purchase. It has a price tag of, let's say that I need to pay $500,000 to buy that house. This is the seller of the house right here. And they have a mustache. That's the seller of the house. I would like to buy it. I would like to buy the house. This is me right here. And I've been able to save up $125,000 dollars. I've been able to save up $125,000, but I would really like to live in that house, so I go to a bank. I go to a bank, let me get a good color for a bank. That is the bank right there. And I say, quot;Mr. Bank, can you lend me quot;the rest of the amount I need for that house?quot; Which is essentially $375,000. I'm putting 25% down. This number right here, that is 25% of $500,000. So I ask the bank, quot;Can I have a loan for the balance? Can I have $375,000 loan?quot; And the bank says, quot;Sure. You seem like a nice guy quot;with a good job who has good credit rating. Quot;I will give you the loan but while you're paying off the loan you can't have the title of that house. Quot;We have to have that title of the house quot;and once you pay off the loan, quot;we're going to give you the title of the house.quot; What's going to happen here is the loan is going to go to me, so it's $375,000. $375,000 loan. Then I can go and buy the house. I'm going to give the total $500,000, $500,000 to the seller of the house, and I'll actually move into the house myself, assuming I'm using it for my own residence. But the title of the house, the document that says who actually owns the house. This is the home title. This is the title of the house. Home title. It will not go to me. It will go to the bank. The home title will go from the seller, or maybe even the seller's bank, because maybe they haven't paid off their mortgage. It will go to the bank that I'm borrowing from. This transferring of the title to secure a loan. When I say quot;secure a loan, I'm saying I need to give something to the lender in case I don't pay back the loan or if I just disappear. This is the security right here. That is technically what a mortgage is. This pledging of the title as the security for the loan, that's what a mortgage is. It actually comes from old French. Mort means dead, and the Gage means pledge. I'm 100% sure I'm mispronouncing it, but it comes from dead pledge because I'm pledging it now but that pledge will eventually die once I pay off the loan. Once I pay off the loan this pledge of the title to the bank will die, and it will come back...

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What is certificato mortgageloan form?

Certificato mortgageloan form is a legal document that provides details about a mortgage loan.

Who is required to file certificato mortgageloan form?

Individuals or entities who have taken out a mortgage loan are required to file certificato mortgageloan form.

How to fill out certificato mortgageloan form?

To fill out certificato mortgageloan form, you need to provide information about the loan amount, interest rate, term of the loan, and any other relevant details.

What is the purpose of certificato mortgageloan form?

The purpose of certificato mortgageloan form is to document the details of a mortgage loan for legal and financial purposes.

What information must be reported on certificato mortgageloan form?

Information such as the loan amount, interest rate, term of the loan, and details of the property being mortgaged must be reported on certificato mortgageloan form.