A Mortgage for Funding an Important Family Celebration
Jewish people love to celebrate and know how to do it well. A wedding, Bar Mitzvah, Bat Mitzvah, Circumcision, female infant celebration or golden / silver wedding anniversary are all beautiful, once in a lifetime celebrations. Throughout history, from the earliest days of the State of Israel, Israelis never miss an opportunity to rejoice. They always celebrate in some way or another, depending on the environment and circumstances.
Lately, with the rising standard of living and changed tastes and priorities, the trend of making family celebrations into something “bigger than life” is definitely on the rise. Today, a family celebration is considered to be a financial project for all intents and purposes, and this reality is not always easy to cope with. Just think of the great number of aspects that the average Israeli is required to take care of in order to produce the perfect event: finding an event venue (an indoor event hall or outdoor garden), deciding on the venue’s design according to the atmosphere and experience we wish to create, selecting a photographer so we can remember the celebration’s most exciting moments forever in the most tangible way possible, choosing a catering and bar service because no one can celebrate on an empty stomach but excellent food and beverages can make any event truly unforgettable, looking for a DJ and selecting music and singers because entertaining the guests is important if we want them to really be happy, locating producers and organizers that can create an event that is truly amazing, and even providing convenient transportation.
In short, a large family celebration is usually very expensive. It costs tens and even hundreds of thousands of shekels, and Israelis, as always, will not compromise for less than the very best.
Resources are not unlimited, and an expense of this magnitude cannot usually be funded from the family’s ongoing budget. However, short-term loans or the use of a credit card will soon lead the hosts into insolvency. The solution can come from a mortgage bank or insurance company. A mortgage loan (obtained by mortgaging a real estate property) for financing a large family event will be characterized by a long-term loan period and lower interest than any other credit option. It therefore allows the Israeli household to organize the event and pay the expenses through reasonable monthly payments over a long period, according to the family’s needs and financial abilities.