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"It's like a mortgage with a lot of equity.
Take that £100,000 mortgage with a £71,000 shortfall.
You sign a mortgage with a bank, then the bank turns around and bundles that mortgage with many others into a mortgage-backed security.
Getting a mortgage, with its mountains of paperwork, "was a difficult and painful process," he said.
But Ms. Bustamante urged patience, and they eventually secured a mortgage with a good rate.
He got a 30-year mortgage with a fixed rate of 3.5 percent.
If you have a mortgage with Santander, you do not pay a Spanish interest rate.
There are also women who wish they had signed their mortgage with disappearing ink.
They have also been clever at bundling products—eg, a mortgage with household insurance.
Mr. Zagoreos got a 15-year mortgage with an interest rate of 3.25 percent.
"I was going to pay off my parents' mortgage with my bonus," he told me.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com