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I know there are savings or passbook loans … is there such a thing as a savings or passbook mortgage? If so, what is the link or name of company that offers such a product.

Please … no general responses telling me to google this. I have done that! I am looking for specifics. Thanks!

4 Thoughts on Is there such a thing as a secured mortgage?
  1. Reply
    Common Sense
    February 1, 2014 at 5:29 pm

    No. If you have that much money, use it to buy the house in cash.

  2. Reply
    Rick B
    February 1, 2014 at 6:10 pm

    What are you talking about?

    A savings account is a place where you deposit money. A mortgage is a loan on a house. They are apples and oranges.

    No idea what your questions is trying to determine.

    As far as “secured”, a mortgage is a secured loan. The house is the security.

  3. Reply
    SoccerRefToo
    February 1, 2014 at 6:16 pm

    Mr

    All mortgage loans are secured by the real estate that they are covered on the deed of trust that the lender is making the loan against. It is the same as pledging stocks or savings to obtain a loan…. you are just pledging the property to secure the loan.

    Soccerref

  4. Reply
    Pat
    February 1, 2014 at 6:23 pm

    I can’t even figure out what a “passbook mortgage” would be.

    ALL mortgages are secured.

    They are secured by the property that you have the mortgage on.

    You buy a house.
    You get a mortgage.

    If you don’t make the payments, the bank takes the house.

    THAT’S WHAT A MORTGAGE IS.

    YOU COULD HAVE FOUND THIS IN A DICTIONARY.

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