What risks are you taking when you sign on the dotted line of your new home loan contract? The below article lays it all on the table for you to read.

The mortgage loan has been around for almost 2,000 years, rather amazing when you think about how little the process has changed over the centuries. The debtor borrows a sum of money, known as the principal, to purchase land and pays the creditor back over an agreed upon time, known as the term, with interest to remunerate the creditor for the use of the money and the land. In ancient times, this was a brilliant way to make unused lands productive – and profitable – by placing them in the hands of people who couldn't afford the entire cost up front, but were likely to prosper as a result of the agreement.

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