This encourages lenders to give mortgages to people who might not otherwise qualify for a loan.

Title insurance - A lender won't give you any money without guaranteeing its interest in the property.

"Some lenders will give you an allowance for a certain percentage of overrun," he said.

The lender deposits the money in your bank account or gives you a check for the amount.

Up until 1971, most lenders were giving very long-term mortgages.

"And I think if we hadn't, the lender wouldn't have given us the loan."

But he said one lender still gave the thief a $5,000 line of credit.

Over here, some lenders are giving data to preferred suppliers; others seem unwilling to participate.

"But we believe our limited role as a lender and underwriter should not give rise to any claims against the firm," he added.

Usually the lender will only give the borrower a few days notice before the payment is due.