What is a mortgage?

In: Mortgage Payment

10 Jun 2010

Exactly what it is and why you need it? Why can it be dangerous?
Only a few sentences in response would be nice THANKS

It is a loan for your home to pay. Suppose you want a house that cost 300,000, but you do not have the money, which would give a deposit on your credit basis, then you take a loan of 15-30 years, depending on what you want your payment.



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