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Columbus & Central Ohio, United States
DeLena Ciamacco is a well-known, respected Top Producing Realtor in Central Ohio. Her myriad of accomplishments, recognition, and professional credentials as they relate to Real Estate, make her a perfect individual to provide insight to the masses on all aspects of Real Estate sales. Her creativity and honest approach to marketing Real Estate has enabled her to succeed in her career. DeLena’s philosophy is “An educated and well prepared Buyer or Seller is a smart Buyer or Seller”. Her desire is to inform the public, by pulling from her 20+ years of Real Estate sales & Marketing, what is necessary to get to a successful closing in these challenging times.

Tuesday, May 25, 2021

Do you know the difference?

 What is the difference between a mortgage and a title?

If you are a beginner, you should know the difference between a mortgage and title. They are not interchangeable. A mortgage is an agreement that the borrower makes with the lender. He agrees to pay back the lender the amount of money that he has borrowed for the home. The lender will lend you the money at a specific interest rate. You will then have to repay the loans in installments. A title, on the other hand, refers to the rights of ownership to any property. When you own the title to your home, your name will be there on the house.
It can be possible that you and your partner jointly own the home, but only your name is listed on the home. It is also possible that while the mortgage papers have your name, the house can be contained in both yours and your partner's name.

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