The Ramblings of my life

I know this things may sound scary to some of my readers here, especially to those who had a bad experienced with Mortgages. As you all know, Mortgage means a financial agreement between a lender and a buyer in which the property is used as a collateral for the loan. A mortgage gives the lender the right to collect payments on the loan (and to foreclose on the property if those payments are not made).

Some unfortunate people have to mortgage their land just because to get a study loan from any lenders and this may caused your parents to lose the land if you as a student failed to finish the course and won’t be able to make any payment to the lenders.

I still remember the other day when my sister request to mortgage our family land for an RM180,000 which at first my mom and dad feels a bit skeptical to mortgage the land due to some reason (eg,will my daughter be able to repay back the installment?) . But since my parents love my sister a LOT, then they finally agreed with my sister.

but of course my sisters have to submit a superb proposal to my father otherwise the request will be turn down . How did she made it? hehe my sister is very smart, she ask for my help to compare mortgages that available on that time and ask me to check which gives the best offer and reliable.

Well i did the home work lols! well i have to admit it wasn’t an easy task for me as i have to go and collect all the information from banks and lenders offering mortgages then after that i can do the comparisons so that we can successfully convinced our father to approve the proposal.

Well after all the hard works we finally convinced our beloved father do approve the proposal and now it all i can say is it was a successful business run by my sister.

When talking about mortgage, you have to be very extra careful so that you choose the right mortgage cause there is lots of mortgages type available nowadays ranging from,fixed rate mortgages,tracker mortgages discount rate mortgages,adverse credit mortgages and buy to let mortgages .

Think before you get engaged  with any type of mortgages available. just to play safe.

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