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Bitcoin-Backed Mortgages Emerging in Canada With Unclear Costs for Borrowers
(4 hours ago) · 1 source · Summarized by CryptoBipto
Bitcoin-backed mortgage products are reportedly being introduced in Canada. However, borrowers may not yet fully understand the costs and risks associated with using Bitcoin as collateral for home loans.
WHY IT MATTERS
A mortgage is a loan used to buy a home, and traditionally, the home itself serves as collateral — meaning the bank can take the house if you stop paying.
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SOURCES
- coindesk.com
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