Owners of homes were once dreamers. Building a home is one of the greatest accomplishments in life. About 80 percent of home owners had the idea of buying a home after working for many years. If the idea of owning a home is conceived during the first month of work, then a better planning could be made. Usually when individuals/families attain a certain level of financial independence and comfort the next thought to own an apartment or a home. The type of home is determined by our financial...
Mortgage is a loan usually long term in nature intended to ease the borrower’s purchase of a home. To the lender it is an investment with long term benefits collected in the form of interest. There are different options in the purchase of a home.
The home may have been built by a bank (offset mortgage) and then sold to individuals. Payment of the home is then collected in small installments. The small installments are usually monthly payments made by the borrower to the bank.
If you are having difficulties to pay your mortgage, then you must take some measures to readily address the situation.
Several reasons that may arise that could result in distortion of the mortgage agreement. While some mortgage problems are deliberate, a majority of people failed to meet their mortgage obligations unintentional;
Deliberate actions could be attributed to,
- Improper planning of finances,...
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