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Real Estate
Eileen M. Day realtor g«,~«
MORTGAGES CAN HELP
Mortgages are the most common way to finance the purchase of a home. Using mortgage financing can mean the difference in owner equity in a home and owning nothing but rent receipts.
People often refer to “paying the mortgage”, but actually it isn’t the mortgage that is being paid, but rather the promissory note which is secured by the mortgage. In other words, when you give the lender a mortgage you are using your real estate as collateral to guarantee that you will repay the loan as promised.
By the use of mortgage financing many people who would not otherwise be able to afford to purchase their own home may become proud homeowners. Also with mortgage financing you have a deed — in your name — to the property; it belongs to you and no one else. In addition, the interest you pay is tax deductible. Rent payments aren’t.
Real estate professionals are experts in helping to arrange mortgage financing for prospective homeowners.
If there is anything we can do to help you in the field of real estate, please phone or drop in at EILEEN M. DAY, Realtor, The Clopton House, Washington, VA 22747. Phone: 675-3400. We’re here to help.
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