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Q: real estate ( No Answer,   1 Comment )
Question  
Subject: real estate
Category: Miscellaneous
Asked by: charlessnyder-ga
List Price: $2.00		 Posted: 23 Jul 2004 15:39 PDT
Expires: 22 Aug 2004 15:39 PDT
Question ID: 378330 
is a mortgage a credit or debit to the buyer and seller of real estate?
Answer  
There is no answer at this time.

Comments  
Subject: Re: real estate
From: nick_name-ga on 23 Jul 2004 17:00 PDT		  
The mortgage loan is the sellers debit.  The mortgage is secured by
the property. Typically when a home is sold, the buyer will come in
with a new loan that pays off the sellers old loan and becomes a debit
for the buyer.  All of this would be handled in escrow.
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