Real estate agents assist people in selling and buying homes. Anyone in California who holds a real estate license must have some knowledge of finance in order to pass the state licensing exam.
The average real estate agent, however does not need to have an abundance of knowledge quite frankly to practice real estate. The average real estate agent is the one who avoids educating themselves about real estate finance and will miss out on collecting those extra commissions because of that lack of knowledge. Knowledge of real estate finance can not only help to close difficult transactions but may also leave a knowlegable agent with a plethora of referrals in the future.
The word "Mortgage" dates back to 1066 in England when the French used the "gage" system. Real property used as colateral for a loan was known as a "dead gage", the French called it "mort" which is the word for "dead". Hence today we use the word "Mortgage".
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