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The American Mortgage Explained Without The Jargon

2 imagenes, 8 preguntas, 1 definicion, 1 dato, 3 videos, 1 encuesta sobre The American Mortgage Explained Without The Jargon en ARTi.

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The American mortgage

Imágenes

The invention of the long-term loan

sloane The Federal Housing Administration pioneered the modern 30-year mortgage to make homeownership affordable for ordinary families.

How the Great Depression changed everything

sloane The economic crash of 1929 destroyed the early mortgage system, leading to widespread foreclosures and government intervention.

Fun Facts

Fun Fact

Mortgage translation: The word mortgage literally comes from Old French words meaning 'death pledge,' coined by medieval lawyers.

Quizzes

Quiz

Which President signed the National Housing Act of 1934 into law?

Quiz

Why did early 20th-century banks refuse to lend more than 50% of a home's value?

Quiz

Which US government agency, created in 1934, popularized the long-term amortized mortgage?

Quiz

What does the Old French word mortgage literally translate to?

Quiz

Before the 1930s, how long did a typical American home mortgage last?

Quiz

During the peak of the Great Depression in 1933, approximately how many US home mortgages foreclosed each day?

Quiz

What happened to a borrower at the end of a pre-1930s balloon mortgage?

Quiz

What does it mean when a mortgage is fully amortizing?

Glosario

Glossary

mortgage (noun)
A legal agreement in which a person borrows money to buy property and repays it over time. The Federal Housing Administration introduced the thirty-year amortized version in 1934 during the Great Depression.

Gossip

Gossip

Would you prefer a 30-year mortgage or renting forever?

Videos

sloane The risky days of early home buying

sloane The invention of the long-term loan

sloane Why mortgage means death pledge