The Secret the Banks Don't Want You to Know

Lending institutions protect themselves by securing the loan with the property that they are financing.

Perhaps you will be shocked to find out the banks' worst kept secret, or perhaps it is something that you already knew, but never recognized as a valuable piece of information.

Lending institutions protect themselves by securing the loan with the property that they are financing. This gives the moneylender some assurance that the property owner will pay back the borrowed money on time as specified in the original mortgage agreement and as long as you keep making your mortgage payments, everybody lives happily ever after.

However, if the homeowner begins to fall behind on mortgage payments, the dream of owning a home could become your worst nightmare, not only for you but also for the lending institution.

READ FULL STORY:  Courtesy of Huffington post.com

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