Mortgage loan

A mortgage loan or 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 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 when either the obligation is fulfilled or the property is taken through foreclosure. A mortgage can be described as "a borrower giving consideration in the form of a collateral for a benefit". Mortgage borrowers can be individuals mortgaging their home or they can be businesses mortgaging commercial property.

The lender will be a financial institution, such as a bank, credit union or building society, depending on the country concerned, 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, 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 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.

According to Anglo-American property law, a mortgage occurs when an owner pledges his or her interest as security or collateral for a loan. Therefore, a mortgage is an encumbrance on the right to the property just as an easement would be, but because most mortgages occur as a condition for new loan money, the word mortgage has become the generic term for a loan secured by such real property; as with other types of loans, mortgages have an interest rate and are scheduled to amortize over a set period of time 30 years. All types of real property can be, are, secured with a mortgage and bear an interest rate, supposed to reflect the lender's risk. Mortgage lending is the primary mechanism used in many countries to finance private ownership of residential and commercial property. Although the terminology and precise forms will differ from country to country, the basic components tend to be similar: Property: the physical residence being financed; the exact form of ownership will vary from country to country, may restrict the types of lending that are possible.

Mortgage: the security interest of the lender in the property, which may entail restrictions on the use or disposal of the property. Restrictions may include requirements to purchase home insurance and mortgage insurance, or pay off outstanding debt before selling the property. Borrower: the person borrowing who either has or is creating an ownership interest in the property. Lender: any lender, but a bank or other financial institution. Principal: the original size of the loan, which may or may not include certain other costs. Interest: a financial charge for use of the lender's money. Foreclosure or repossession: the possibility that the lender has to foreclose, repossess or seize the property under certain circumstances is essential to a mortgage loan. Completion: legal completion of the mortgage deed, hence the start of the mortgage. Redemption: final repayment of the amount outstanding, which may be a "natural redemption" at the end of the scheduled term or a lump sum redemption when the borrower decides to sell the property.

A closed mortgage account is said to be "redeemed". Many other specific characteristics are common to many markets, but the above are the essential features. Governments regulate many aspects of mortgage lending, either directly or indirectly, through state intervention. Other aspects that define a specific mortgage market may be regional, historical, or driven by specific characteristics of the legal or financial system. Mortgage loans are gen

Presbyterian Church in Liberia

The Presbyterian Church in Liberia is a historic church in Liberia in the Presbyterian Reformed tradition. It was a Presbytery of the Cumberland Presbyterian Church, now it is an independent, self-governing denomination. Liberia was settled by American slaves. In 1833 the PC begun to work in Liberia. Liberia was a Republic after a Constitution was adopted in 1847. In 1850 the American Board of Commissioners for Foreign Missions sent missionaries, among them was J. Leighton Wilson; the church established Alexander High School in Liberia. It is a well known fact in Liberia that a significant number of independence and post independence leaders were leader of the Presbyterian Church or educated in the Alexander School; the Presbytery of Liberia become independent in 1928, this is the founding date of this denomination. In 1944 the church started its own mission work in the Todee District. In 1980 the church become a provisional presbytery of the Cumberland Presbyterian Church. In 2006 in Cheersburg the church decided at its annual Synod to sever all relations with the Cumberland Presbyterian Church, the Synod of Tennessee, put an end to a more than two decade long partnership.

The church has more than 3,000 members. First Presbyterian Church in Monrovia, Liberia First Presbyterian Church in Careysburg, Liberia Evangelical Presbyterian Church in 3rd Street, Liberia Trinity Presbyterian Church in Paynesville Yekepa Presbyterian Church in Yekepa City, Liberia St. Paul Presbyterian Church in Gardnesville Township, Liberia Gwee Town Presbyterian Church in Todee District,Montserrado County, Liberia First Presbyterian Church Marshall Margibi County Faith Presbyterian Church Sinkor, Liberia Granger Presbyterian Church in Johnsonville Township, Liberia Croizerville Presbyterian Church in Crozierville, Liberia St. Marks Presbyterian Church in Fansehn Town, Liberia Marshall Presbyterian Church in Marshall City, Liberia First Presbyterian Church Schiefflin in Margibi County, Liberia Gbarnshue Preaching Point in Zota Clan New Horizon Presbyterian Church in Harper City, Liberia Bomi Presbyterian Preaching point in Bomi County, LiberiaThe Moderator of the Presbyterian Church is Rev. Sando E. Townsend and the Stated Clerk is Elder David B.

Gibson, Jr. Name of Minister of the Presbyterian Church: 1. Rev. Sando E. Townsend 2. Rev. Aaron C. Smith 3. Rev. Solomon K. Akorsah 4. Rev. Solomon H. Garjaye 5. Rev. G. Boimah Freeman 6. Rev. Plezzant C. Harris 7. Rev. Dave B. G. Kiamu 8. Rev. Sanjee Abioseh Stepter 9. Rev. Sayply Clerk 10. Rev. Emery Ghaicarn 11. Rev. Sam S. Kwadeh 12. Rev. Robert B. Lee, III 13. Rev. Lester R. Lee 14. Rev. Menwon Shasha 15. Rev. Ishmael Cole 16. Rev. Dwedw G. Townsend 17. Rev. Rita E. Townsend 18. Rev. Lawrence Bayusie 19. Rev. C. Wellington Morgan 20. Rev. Victor E. Helb 21. Rev. Coker A. J. George, Jr 22. Rev. L. Abba Diggs 23. Rev. Augustus T. Turker 24. Rev. C. Vivian Sisuse 25. Rev. Shadrack M'bock 26. Rev. Jerries L. Walker 27. Rev. Ernest Urey 29. Rev. Jackson Targee 30. Rev. Janjay Biamon 31. Rev. varney Boimah 32. Rev. Eugene Olu Eastman 33. Rev. James Lee 34. Rev. Amelia C. Stryker 35. Rev. Richard Ballingggar 36. Rev. George W. Tugbeh 37. Rev. Caesar B. Snyder 38. Rev. Cornelia Greene Mayson 39. Rev. Andrew Kolubah 40. Rev. John Karmo Names of Candidates/Licentiate: 1.

Lic. Victor B. Kromah 2. Lic. David Kollie 3. Lic. Joe P. Sumo 4. Lic. Edward Peters 5. Lic. David Sumo 6. Lic. John T. Wright The Presbyterian Church in Liberia is a denominational member of the World Communion of Reformed Churches; the First Presbyterian Church and the Living Water Fellowship Church both in Monrovia, Liberia are congregational members of the World Reformed Fellowship. Official Website

Grace Macurdy

Grace Harriet Macurdy was an American classicist, the first American woman to gain a PhD from Columbia University. She taught at Vassar College for 44 years, despite a lengthy conflict with Abby Leach, her first employer. Macurdy rose to become chair of the department of Greek before embarking upon an illustrious international career. One of her major areas of research was royal women during the Hellenistic period. Macurdy shaped the field of classics and the study of ancient history by pulling together both material evidence and textual evidence as sources in her pioneering studies of individual women. Macurdy was born in Robbinston and was the daughter of Simon Angus Macurdy and Rebecca Thomson Macurdy, she went to high school in Watertown, before studying at Radcliffe College, where she gained highest second-year honors in 1887, graduated in 1888. Macurdy would become the first graduate from Radcliffe to gain a doctorate, become a college professor. At first she taught Greek and Latin at the Cambridge School for Girls, while continuing to teach graduate courses at Radcliffe, in 1893 moved to Vassar College.

Macurdy was awarded a fellowship from the Woman's Education Association of Boston, which allowed her to study at the University of Berlin from 1899 to 1900, taking classes taught by Ulrich von Wilamowitz-Moellendorff. She gained her PhD from Columbia University in 1903, becoming the first American woman to have gained a PhD from Columbia, her dissertation was titled The Chronology of the Extant Plays of Euripides, was longer than most dissertations in the subject at that time. While studying, she had continued teaching at Vassar, commuting to and from Columbia, until the receipt of her PhD gained her a promotion, she became an Associate Professor of Greek at Vassar. In 1908 she became the first woman to teach in the academic program at Columbia University, taking up undergraduate and graduate Greek courses in Columbia's summer session. During her early career, Macurdy cultivated a relationship through letters with Gilbert Murray, who supported and encouraged her work after they met in 1907.

It is clear that she patterned her work on Murray's, but as her research progressed she began to work on etymology of names and religious origins, ethnology, thus beginning to model herself more after the approach of Jane Harrison, herself a female pioneer of the time. Her first book and Paeonia, was dedicated to Harrison, a dedication which Harrison received with great delight. Macurdy's pioneering academic achievements did not have wholly positive results, as her increased success brought her into conflict with the scholar who had first hired her to Vassar, Abby Leach. In 1907, Macurdy discovered. In 1907, Leach began to seek a faculty member to replace Macurdy, to restrict the courses which she would be allowed to teach. In January 1908, Leach formally proposed Macurdy's dismissal to the Vassar president, James Monroe Taylor, claiming that she needed a younger more "adaptable" colleague for her work. Leach commented unfavourably on Macurdy's decision encouraged by Leach herself, to study for her PhD while teaching at Vassar.

Before Leach's proposal could be acted upon, she publicly reassigned Macurdy's class in freshman Greek to a new instructor, she continued to write letters to Taylor criticising Macurdy. The trustees of the college rejected Leach's proposal, unanimously reappointed Macurdy, instructing Leach to give her a reasonable share of the work in the department, yet Taylor continued to receive letters from Leach, a letter from graduate students telling him of incidents when Leach had vehemently criticised Macurdy and her work to the students in their classes, including criticising details of her thesis. Leach's campaign continued for several years, she continued to remove courses from Macurdy, to persuade students against courses which Macurdy was teaching claiming that Macurdy should be dismissed as she did not have sufficient courses to teach, or sufficient students. Leach continued her letter-writing, writing to alumnae asking them to criticize Macurdy, writing further derogatory letters to the president of Columbia and professors of Greek who had taught her there.

When Henry Noble MacCracken took office as the new President of Vassar in 1915, Leach presented her case for the dismissal of Macurdy to him. However, MacCracken instead proposed the following year that Macurdy should be given a permanent post, promoted to the rank of full professor, the trustees agreed. Despite the lack of support, Leach continued her campaign until her death in 1918. Hundreds of the letters sent as part of the conflict are now in the Vassar Archives, stored under the heading "The Leach-Macurdy Conflict". In 1920, two years after Leach's death, Macurdy became chair of the department of Greek at Vassar, a post which she held until she retired in 1937. In her new position, she increased collaboration with the Latin faculty, mentored younger colleagues, increased enrolments, improved the strength of the courses offered by the faculty, continued to publish widely, she continued to be an effective teacher and international traveller, despite the fact that in 1919 she had begun to lose her hearing, a loss which proceeded until she was entirely deaf by her mid-fifties.

After the loss of her hearing, Macurdy took to using an ear-trumpet, a detail remembered fondly by her students in anecdotes. In contrast with Abby Leach, at whose hands she had suffered so much difficulty, Macurdy worked hard to promote the careers and scholarship of other younger female colleagues, she recognised the