A Mortgage for Funding a Family Trip Overseas
Taking a trip overseas is something Israelis have always loved. They discovered the magic of doing so even when costs were still frightening. Today, with increased globalization and many more opportunities opening up, more and more Israelis are becoming “addicted” and joining the “club”. According to the most recent statistical data, more than 2,000,000 Israelis travel overseas every year.
The question is when to travel, but the only answer is: always! It can be during Jewish holidays (Rosh Hashanah, Succoth and Passover), the summer break, the ski season or on New Year’s Eve. There is no shortage of reasons. And even with the recession, uncertain security situation and warnings concerning possible terrorist attacks, nothing can stop Israelis from taking a few days off and spending them at an interesting location far from home, and “attacking” worldwide destinations at an ever growing rate.
The most recent trend is the “family holiday”. For many, taking this type of holiday every 12 or 18 months has become a tradition. The costs, with three or four children, can be quite a burden, and are actually the main consideration in deciding whether or not to go, as most of us do not win the lottery or inherit a fortune on a daily basis.
Well, it turns out you can go on a family trip overseas without declaring bankruptcy afterwards. Mortgage banks and insurance companies are willing to provide us with a loan in order to fund our trip, in exchange for mortgaging a real estate property or using a property already mortgaged to obtain additional funds. The wide variety of mortgage programs, convenient interest rates, long term loan periods and easy to cope with monthly payments will make this considerable expense into something your family can afford.