Question about Lenovo CENTURY MORTGAGE ONLY (2373C03) PC Notebook
Resident in uk have mortgage on timeshare in usa cannot afford payments due to economic situation if i default on mortgage can the company come after me in courts to get their money
It will depend on the time share company and whether they have a division or sister corp. incorporated in the UK.
The torture of trying to get settlements across national borders is hardly worth the effort for company unless it is a substantial sum.
I'm sorry about your (and our) financial bind; you can thank our stupid US socialist government for their free market interference in the mortgage business.
Personally, I hope you stiff the time share outfit, they have been shafting consumers for decades. Time shares are the worst kind of expenditure and only allow developers to sell middling apartments for 8-10 times what they cost to build.
Posted on Dec 23, 2008
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Posted on Jan 02, 2017
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The process of paying off a loan through specifically structured periodic payments is known as amortization. Amortized loans are different from other loans due to the way the amount and the structure of each payment is determined.
mortgage payments are a common form of amortized loans, and interestingly enough, both the term mortgage and the termamortization find their meaning in the same root word "mort." This term means to deaden or kill, as in to "kill off" or eliminate the loan a bit at a time, via regular payments.
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