September 2010

There are 1 blog entries for September 2010.

A Few Chicago Real Estate Tips

Wednesday, September 15th, 2010 at 11:03am. 3271 Views, 0 Comments.

What is a Mortgage?

Simply put- A mortgage is loan made to a purchaser that is secured by real estate. In other words, in exchange for providing the necessary funds to procure real estate, the lender enters into a contract with the buyer stipulating the conditions for pay-back of the principal with interest.  In the event of non-payment of the amounts as agreed upon, the lender is empowered to take possession of the property. Typically the repayment occurs through a process of monthly payments over a predefined period of time.

Why Buy Instead of Rent?

Buying a home is largely considered to be a sensible investment as opposed to renting, as the value of a home historically appreciates over a period of time. As the years…

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