The history of the mortgage, first and foremost, is a history that shows a lot of people why mortgages are so respected in the world today. Before the advent of the mortgage as an agreement, there was no similar agreement in place and what that essentially meant was that the only people that had the ability to purchase property were the people that were able to pay for it outright; something that very few people then or now are able to do. Ultimately, when you take a look at the differences in the fiscal banking policy then and now, you can see that mortgages have made the dreams of millions come true specifically because they allowed a person to be able to purchase a house without having to be in possession of money equivalent to the property value of that house and lot.
