MORTGAGE ADVICE
Where Does Mortgage Money Ultimately Come From?
If you’ll remember the movie It’s A Wonderful Life, you’ll certainly recall the scene where there was a semi-bank run by those who thought Bailey Building and Loan was going to fail. They were all told that some of their funds were indeed made into loans for others. A house was bought with those funds, for example. Therefore, when they wanted their money, there was no cash on hand to fulfill
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David Reed
Writer
David Reed is a multi-published author and mortgage expert. As a Senior Loan Officer and Mortgage Executive he closed more than 2,000 mortgage loans over the course of more than 20 years in commercial and residential mortgage lending.
AGENT RESOURCE
