How valuable is this commodity we know as real estate? We all may wink-wink when asked, “what is the world’s oldest profession?” but what about the world’s second oldest profession? That is a toss up between mortgage lending and real estate buying and selling. Real estate my dear reader and all of its attributes go back to the earliest days of recorded history. Archeologists uncover clay tablets from Mesopotamia and what do they find still legible? Mortgage deeds!
Mortgage lending makes it appearance in the bible. Biblical tradition bans both charging interest to the poor and foreclosing on property mortgaged under abusive loan terms. (See Exodus 22:25-27)
"We are mortgaging our fields, our vineyards, and our houses to get grain because of the famine." (Nehemiah 5:3-11.)