Mortgages : How Do Mortgages Work?

Mortgages are basically a repayment that encompasses real estate and which are based on monthly payments that go towards principle. Discover how adjustable-rate and fixed-rate mortgages work with tips from a licensed mortgage broker in this free video on personal finance and real estate.

Expert: Adriel Torres
Bio: Adriel Torres has been in the mortgage business for over a decade. He has owned two mortgage companies and is a licensed mortgage broker.
Filmmaker: Christopher Rokosz

[vahehayrapetian-loanorigin]

Thank you for explaining how mortgages work!

[danz]

so you use a mortgage to buy a home? i thought you had to own the home to take out a mortgage.

i'm looking to finance a home worth $20, 000 and pay it off in 4 years.
yea. its a fixer-upper. but i gotta start somewhere.

my credit isn't the best. but its not trashed ether. i had a credit card. late payment here and there. and got into trouble with it. but it is payed off. made a installment loan to buy my $3, 000 car and that's payed off. any suggestions?