Why the Banks Don't Want You to Know About Where Mortgages Come From 🤐❓

In this video, we discuss the inner workings of the banking system. Discover why understanding the money game is crucial for your financial empowerment.

#personalfinance #debt #mortgages #credit #bankingsystem #bankingsecrets
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moneyfitnessexpert

2024-04-02 16:02:00

i didn't know at the time
that when you apply for mortgage
the money does not exist
in an account
before you sign the mortgage documents i thought that it was a transfer of money that the bank
already had
pre-existing
my mortgage contract
well when i found out that was not the case it was quite shocking
for me anyway i mean mine be looking for other people but for me that was really quite shocking because i'd rested my entire
premise on the belief that
a mortgage company must have something to lend before they lend it
and while they don't and that's something is money
it's actually created upon the strength of my signature which creates a promissory notes which they accept for value
and create the credit that becomes my mortgage on my loan or my credit card