Navigating the Mortgage Process: A Comprehensive Guide
Q: What is a mortgage and how does it work?
A: A mortgage is a loan secured by real estate property. It allows you to purchase a home and repay the loan over an extended period, typically 15 to 30 years. The property serves as collateral for the loan, and if you fail to make your mortgage payments, the lender has the right to foreclose on the property and sell it to recoup their losses.
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