Tuesday, December 1, 2009

Mortgage Terms

Mortgage is a right, the creditor obtained a good move that serve as collateral for debt repayment. And Mortgages are "trademark" of the government-owned financial institutions that carry out business activities with fiduciary principles.
Mortgage business was first institutionalized in Indonesia since the governor-general Van Imhoff established VOC Van Leening Bank. Even so, it is believed that the practice of pawning rooted in everyday life of Indonesian society. The Government had just established institution first lien in Sukabumi in West Java, with a Mortgage, on 1 April 1901 by Wolf von Westerode as the first Head of State Mortgages, with a mission to help people from bondage of loan sharks through the provision of money lending Mortgage law. As with the times, Mortgages have been several times changed the status from the Bureau Company (1901), the Company under IBW (1928), SOE (1960), and returned to the Testament in 1969. New in 1990 with the birth PP10/1990 April 10, 1990, until the publication of Regulation 103 of 2000, Mining and status as a Public Company and is one of SOEs in the Ministry of Finance Republic of Indonesia until now.

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