Eli5: Why do banks own houses? 257 viewsJanuary 3, 2024 Question90.57K May 18, 2022 0 Comments When and why did banks start owning houses and land? When did mortgages start? In: 3 10 Answers ActiveNewestOldest Anonymous Posted May 18, 2022 0 Comments Banks only own land/homes when they foreclose on a mortgage because the borrower doesn’t pay. In the US, the first bank to offer mortgage loans started in 1781, but it was mostly for farms. You are viewing 1 out of 10 answers, click here to view all answers. Register or Login
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