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Friday, March 07, 2008

Mortgage or cagaran

Do you know what mortgage is? I don't =P I went to search wiki and I still do not understand, then I take out my dictionary, the one that accompanied me in my battle in Pictionary, to get a simpler explanation.

Mortgage simply means cagaran in Malay. Like you want to borrow money from a bank, you need to put something like maybe your house, as a Mortgage to borrow the money. My apartment, the one I am staying in right now is also under Mortgage. This is because we borrowed money from the bank to buy our house and we have like what? 29 more years to go before the house is officially ours.

We have just completed paying for our old house. I do not know much about mortgage at first but when we buy our current house, we had to go from a bank to another to check out their rates because somehow they want some interest if they were to borrow you money right? So yea, we had to go from one bank to another to check out the rate and to find one that is most reasonable and of course, low.

I can still remember the numerous calls made to confirm the rate and the time used up to compare the rates. If only we found this website where they allow us to check the
Mortgage interest rates online. We do not have to travel to different bank or get their numbers or making calls. I think this will definitely reduce the number of white hairs sprouting out during the whole buying house process.

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