

| to really bite," he said. Under the 2nd mortgage financing title registration system of land ownership registration, mortgages and easements are recorded on the title at the central registry, so that any buyer knows for certain whether a block of land is subject to a mortgage or not. This is a simple process, which reduces transaction costs involved in the sale of land. Greg McBride, senior financial 2nd mortgage financing at Bankrate.com, said the proposed credit won't help homeowners in regions of the country, like New York and California, where housing prices have skyrocketed. "It seems to 2nd mortgage financing the plight of a first-time buyer in an expensive market," he said. Because the panel would convert the |
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