The mortgage is a requirement considered effective by credit financial institutions, banks and savings banks, and it is mainly used by institutions for loans and credits, called mortgage for being the right guaranteed by actual mortgage, and whose great confidence has led to a considerable development of credit and favored territorial credit and, in many cases, the creation of the so-called real estate bubble.
The mortgage is a property law of warranty and value realization, which is to secure the performance of an obligation (usually payment of a loan or lending) in an asset (usually property) which, if the obligation is fulfilled, remains in power of its owner. The mortgagee may, in case the secured debt is not satisfied in a timely fashion, promote the forced sale of the encumbered with the mortgage, whatever its owner at that time, for the payment of credit due to the extent of the amount received from the forced sale promoted to perform the mortgaged property.
The global financial crisis that began in the second half of 2007, has dragged behind, although to a lesser extent, a major housing crisis, and especially the distrust of citizens of some countries banks.
Translated and adapted from Wikipedia under GNU Free Documentation License.