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FAQ #9. Are my payments FDIC insured?

Not until you pay off your debt and run a positive balance. This is a line of credit mortgage, not a savings account, and therefore not FDIC insured. Your cash actually becomes home equity. You are paying down your mortgage, not making a deposit in the traditional sense. Years of traditional banking has trained us to think we need to have a "pile" of money somewhere, when in reality, the banks are using it to loan money to others. In this new approach, you build your wealth in a completely new way — it's in your real estate investment.

hoa@mortgageangel.net 

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