Don’t Burn Your Mortgage

Banker & Tradesman, Dec. 17, 2023–Lew Sichelman
In the 1900s, observing the end of a borrower’s promissory note by lighting a match to the papers was a big deal, often celebrated at a party with friends and family. Few homeowners celebrate the end of their financing these days, for several reasons. One: Not that many people actually carry their mortgage to its full term. Best-guess estimates in the industry suggest that less than 16 percent of all home loans reach maturity.
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