answersLogoWhite

0

The Bank gives them a lump sum of money. This is all the money required to buy the specific house. Obviously the individual or couple does not have enough money at the current moment so they will make monthly payments to pay the bank back the money they loaned them. However there is also interest being charged.

User Avatar

Wiki User

14y ago

What else can I help you with?

Trending Questions
What is the approach through which psychologist systematically acquire knowledge and understanding? What are the steps to apply for a pre-approved loan? What is the best rating for Jackson national life ins co? What is The rate of interest banks charge on short-term loans to their best customers is the? How many American dollars are equal to 6000 Japanese yen? Can you cosign without your name being on the car just the car loan? Is a loan modification only temporary? Should I pay the remaining statement balance? Does ownership revert to two surviving partners when one of three partners dies and they have a mortgage on their property? J P Morgan Chase Bank In Athens Greece? Us bank card How can you use the reporting dashboard to support preferred vendor relationships? What happens to the all the money collected on a house if sold in a foreclosure sale? Can a paid off car be seized for debt? Want do some SUV accessories wholesale Where can i find best SUV accessories suppliers or SUV accessories wholesalers Please give me some advices? Where can you get a free credit report for filing bankruptcy? When was the decimilation of money? Is it considered harassment if Citibank calls 10-20 times a day and on weekends regarding your 20-year-old who incurred debt while not living at home even though she's at home now? How do you add money to a debit card? Does debit mean you owe them money? How can we ensure that patients receive high-quality care and treatment at EmCare facilities while maintaining credibility and trust in the healthcare industry?