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Today’s Mortgage – Almost 1000 Years in the Making
Have you ever thought about how people used to buy property before there were modern banks, mortgage brokers, and underwriting? Mortgages have been documented in history as early as 1190 in England common law documents. In these early mortgages, the lender still held title to the property and, in the event of a default, could sell the property in order to recover the damages. Fast forward to the 1900s...