History and Facts About American Mortgage Loans

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American Mortgage Loan
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Purchasing a home is one of the major purchase
decisions we have ever made. Thats why
discovering the exact home financing with the
exact mortgage lender is very vital. Mortgage
loans are a legal agreement that expresses the
provisional right of ownership of an asset or
property of its owner (the mortgagor) to a lender
(the mortgagee) as security for a loan. The
lender's security interest is noted in the
register of title documents to make it public
information, and is cancelled when the loan is
settled in full.
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Some facts about the mortgage loans in America.
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Mortgage loans were started with insurance
firms and not with banks. Various private
mortgage firms were in business ahead of the
1930s, but they were not capitalized
appropriately. The FHA offered the assurance
needed to protect an investor's purchase.
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2
Before the introduction of mortgage loans,
only 40 of the families possessed homes in USA.

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3
At present in the USA, more than 2/3 of
homeowners have a mortgage loan.
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4
After the depression, 10 of homes were in
foreclosure.
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Mortgage debt in 1949 was equal to 20 of
total income of families. It rose to 73 of total
income in 2001.
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Mortgage loans, in one form or another, have
been present for many years and have been
pragmatic world wide. Alteration to loan models
were slow and offered very few options. Taking
into account the Great Depression during the
1930s, a fast change happened that changed the
very nature of mortgage lending.
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Darrell Rigley is the President of TriMark
Financial Solutions. He has over 20 years as a
successful entrepreneur with a track record of
building large nationwide sales teams. Darrell
Rigley with his firm TriMark Financial Solutions
are giving assistance to people facing
foreclosure.
http//www.darrellrigley.com