Home mortgage is the use of your home as a guarantee for a loan which in turn pays for the home you are living in. In a mortgage transaction there is a debtor who owns the house and the creditor who own the loan. The creditor receives interest in monthly instalments from the debtor and if this and the payment is not received then the creditor may take possession of the home instead of the loan which is called foreclosure. Types of mortgage include simple mortgage, English mortgage, reverse mortgage and usufructuary mortgage. The Federal Home Loan Mortgage Corporation is a government sponsored effort to encourage mortgage lending.