Lawrence D
New member
They just create an account in your name and you just pay them the amount owing.
If this is true, it means that banks are not required to hold any physical money used for mortgages or car loans! So if you default on your loan, the bank doesn't really lose anything except your payments.
If this is true, it means that banks are not required to hold any physical money used for mortgages or car loans! So if you default on your loan, the bank doesn't really lose anything except your payments.