Mortgage What Kind Of Asset Have You Ever Mortgaged To A Bank?

[Good-Guy]

As we all know that mortgaging something refers to handling over your assets like car or property to the bank or any financial institute that offers you loan in exchange of mortgage. Mortgaging something can be a difficult thing because we know that we may lose the assets if we are not able to pay the loan back. This is why mortgaging your asset can be an emotional decision and a risky one, too. This is also one of the biggest reason why I do not like taking loans from bank or anyone. I have always advised people to start business with small capital. So, what about you? What kind of asset have you ever mortgaged to the bank in exchange of loans? Were you emotional during that time? Was it a hard decision for you?

 

[Alexandoy]

The only mortgage we had is our home. We availed of a bank loan to buy the house that we couldn't afford to pay in cash. The bank took over to pay the owner and in return the title is automatically mortgaged to the bank. We paid the installments for 11 years but the interest is affordable because banks are fair in their dealings with the clients.