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A mortgage loan or, simply, mortgage () is used either by purchasers of real property to raise funds to buy real estate, or alternatively by existing property owners to raise funds for any purpose, while putting a lien on the property being mortgaged. The loan is "secured" on the borrower's property through a process known as mortgage origination. This means that a legal mechanism is put into place which allows the lender to take possession and sell the secured property ("foreclosure" or "repossession") to pay off the loan in the event the borrower defaults on the loan or otherwise fails to abide by its terms. The word mortgage is derived from a Law French term used in Britain in the Middle Ages meaning "death pledge" and refers to the pledge ending (dying) when either the obligation is fulfilled or the property is taken through foreclosure. A mortgage can also be described as "a borrower giving consideration in the form of a collateral for a benefit (loan)". Mortgage borrowers can be individuals mortgaging their home or they can be businesses mortgaging commercial property (for example, their own business premises, residential property let to tenants, or an investment portfolio). The lender will typically be a financial institution, such as a bank, credit union or building society, depending on the country concerned, and the loan arrangements can be made either directly or indirectly through intermediaries. Features of mortgage loans such as the size of the loan, maturity of the loan, interest rate, method of paying off the loan, and other characteristics can vary considerably. The lender's rights over the secured property take priority over the borrower's other creditors, which means that if the borrower becomes bankrupt or insolvent, the other creditors will only be repaid the debts owed to them from a sale of the secured property if the mortgage lender is repaid in full first. In many jurisdictions, it is normal for home purchases to be funded by a mortgage loan. Few individuals have enough savings or liquid funds to enable them to purchase property outright. In countries where the demand for home ownership is highest, strong domestic markets for mortgages have developed. Mortgages can either be funded through the banking sector (that is, through short-term deposits) or through the capital markets through a process called "securitization", which converts pools of mortgages into fungible bonds that can be sold to investors in small denominations.
Smarter Planet is a corporate initiative of the information technology company IBM. The initiative seeks to highlight how forward-thinking leaders in business, government, and civil society around the world are capturing the potential of smarter systems to achieve economic growth, near-term efficiency, sustainable development and societal progress.,Examples of smarter systems include smart grids, water management systems, solutions to traffic congestion problems, greener buildings, and many others. These systems have historically been difficult to manage because of their size and complexity. But with new ways of monitoring, connecting, and analyzing the systems, business, civic and nongovernmental leaders are developing new ways to manage these systems. IBM's strategy is to provide or enable many of these technology and process management capabilities and, outside the realm of technology, to advocate for policy decisions that, according to the views expressed by IBM's management in interviews, speeches, op-ed articles and opinion advertising, and other public venues, could "make the planet smarter."
A consumer is a person or organization that uses or consumes economic services or commodities.
A student is primarily a person enrolled in a school or other educational institution who attends classes in a course to attain the appropriate level of mastery of a subject under the guidance of an instructor and who devotes time outside class to do whatever activities the instructor assigns that are necessary either for class preparation or to submit evidence of progress towards that mastery. In the broader sense, a student is anyone who applies themselves to the intensive intellectual engagement with some matter necessary to master it as part of some practical affair in which such mastery is basic or decisive. In the United Kingdom and India, the term "student" denotes those enrolled in secondary schools and higher (e.g., college or university); those enrolled in primary/elementary schools are called "pupils."
In finance, a loan is the lending of money by one or more individuals, organizations, or other entities to other individuals, organizations etc. The recipient (i.e. the borrower) incurs a debt, and is usually liable to pay interest on that debt until it is repaid, and also to repay the principal amount borrowed. The document evidencing the debt, e.g. a promissory note, will normally specify, among other things, the principal amount of money borrowed, the interest rate the lender is charging, and date of repayment. A loan entails the reallocation of the subject asset(s) for a period of time, between the lender and the borrower. The interest provides an incentive for the lender to engage in the loan. In a legal loan, each of these obligations and restrictions is enforced by contract, which can also place the borrower under additional restrictions known as loan covenants. Although this article focuses on monetary loans, in practice any material object might be lent. Acting as a provider of loans is one of the main activities of financial institutions such as banks and credit card companies. For other institutions, issuing of debt contracts such as bonds is a typical source of funding.