new home buyer: Mortgages 101
- 08/28/13 02:03 AM
Buying a home will likely be the biggest purchase you’ll ever make and the biggest debt load you’ll ever carry. Unfortunately, almost 75% of buyers admit they never truly understood all the ins and outs of their mortgage before signing on the dotted line. Most people think a mortgage is like a promissory note, where you owe the bank money that is paid back over an agreed upon period of time. Technically speaking, a mortgage isn’t a loan. It’s a document that you actually give a bank that says they have the right to use your home as collateral in the … (0 comments)
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Buying a home will likely be the biggest purchase you’ll ever make and the biggest debt load you’ll ever carry. Unfortunately, almost 75% of buyers admit they never truly understood all the ins and outs of their mortgage before signing on the dotted line. Most people think a mortgage is like a promissory note, where you owe the bank money that is paid back over an agreed upon period of time. Technically speaking, a mortgage isn’t a loan. It’s a document that you actually give a bank that says they have the right to use your home as collateral in the … (0 comments)
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