Introduction
The land property sector is a huge industry, invoving trillions of dollars of money. There has been a demand for this sector always and is still in much demand. Many people who do not have sufficient facility to buy their own houses or often have to shift locations, prefer to take a home at lease. The people who have their own houses are the one's who can lend it to others or keep it as a mortgage. This is an age old tradition of lending money in return of mortgaging a house. Their a lengthy process involved in the entire transaction of mortgaging a house. The money lender needs to be very sure and aware of all the characteristics of the house, which he would be getting. He needs to make several agreements with the house owner before lending money and has to verify all the legal documents of the house and also to check the authencity of the documents. All these steps are very lengthy and are very time consuming and resource extensive too. Often, middleman is involved too and which increases the value of the transaction and reduces the net profitability for both the parties. This process is highly inefficient and involves a lot of other complexities too like the legal issues, verification, authentication, and others. This industry is bound to grow, because of the huge demand and scope, although facing much difficulties to live up to the required quality. At the time of need and emergency, this is an option preffered by many and is benificial to them. To eliminate the flaws and drawbacks from the conventional mortgaging system, we have Homeland, which is a decentralized blockchain platform, providing mortgaging solutions to it's customers.
Solution Offered
Homeland is decentralized platform, powered by blockchain and running on ERC20 platform. It is all set to provide exclusive mortgaging solutions to its users. It is a platform which would eliminate the middlemen from the mortgaging system and would increase profitability. This platform would provide a direct communication medium to the lender and the seller, by using the blockchain technology, the data would be completely secure and easily recoverable in case of emergencies. Buyers can easily search for the type of house they needed, as all the listing would be available in this platform with high specifications. The lender and the buyer can directly communicate to each other and form legal agreement with all the required terms and conditions by using the smart contract technology provided by the blockchain. The financial transaction is done through the means of cryptocurrency and is very fast and reliable; the settlement is done very fast, after the contracts are formed. The data produced in the entire process is secured completely and is stored in a decentralized manner, making it easily accessible and recoverable. It also provides options for allowing multiple funding for single property; it is a unique feature only available in this platform, making it very convenient for the owners to lend their property.
Conclusion
As we know that the industry of lending money against a land property has a great potential and is already in great demand. A platform like Homeland would make it much easier, cheaper and safer to conduct such legal transactions and deals. It is highly recommended to try out the exclusive features provided by the platform, not only can you a get better profitability, but also better security and reliability of the deals. All the users of this platform would be authenticated using blockchain technology, thus making it a trustworthy platform for dealing out our property.
Website - https://homelend.io/
Whitepaper - https://homelend.io/files/Whitepaper.pdf
ANN - https://bitcointalk.org/index.php?topic=3407541
Telegram - https://t.me/HomelendPlatform
Published by - smithjones
Profile - https://bitcointalk.org/index.php?action=profile;u=1936039
To what extent can this platform be able to minimize the existing flaws in
mortgage industry?
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This platform would benefit both the parties to a great extent and make
the process faster.
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