Homelend - Mortgage Blockchained
Mortgage is really innovative and lifesaving idea that is used by many and basically is more in the favour for the buyers than the banks or financial institutions as it tends to provide a certain amount of flexibility to them.
Many real estate investors or those looking to get into that industry but have little capital to invest tend to use mortgages to add to their portfolios. This is mostly used by those who are latter as they don't have a lot of capital but still want to get into the industry or to make it as their business or in order to make a profit by selling it if the property appreciates in value.
The last case mentioned above is the ideal case by which many of the mortgage lenders tend to make their purchase decisions upon. Many tend to take mortgages just for this alone. It also helps many of those who are looking to buy a house for themselves and are low on savings.
Mortgage allows for them to take ownership of the house even though they are yet to completely pay for the house. They need to pay bit of advance to the bank and the bank then allots them a loan and the ownership to the house to which they repay back just as they'd do for any other type of loan. But unlike personal loan or any other type of loan, Mortgage lets you gain the complete ownership of the house and lets you do anything with it, such as rent it or sell it for a higher price and repay the loan while netting a profit with the remaining amount as discussed above.
All that is fine, but the current workings, standards and procedures that are in place in order to get a Mortgage are too lengthy and cumbersome. It requires for you to fill up on a lot of paperwork and includes a lot of middlemen. This means that the mortgage takes a lot of time to get approved. There is also transparency issues and requires a lot of manpower for it to work.
Homelend Platform
They plan on solving the above mentioned problems by creating a platform for Mortgage based on Blockchain. This solves most of the problems along with bringing about quite a lot of new features. Due to it being powered being Blockchain means that it is totally decentralised and the power of say lies in the hands of the users and not in the hands of a few banks or financial institutions or lenders.
It also means that they system is entirely transparent and this helps in better trust and relationship amongst the lenders and borrowers. This also makes it more secure and gets rid the middlemen. Also the rate of interest and fees for using the platform is significantly less because of it.
ICO & Team
They plan on powering their platform by introducing the Homelend (HMD) Token which is based on Ethereum's ERC-20 Token. Their Pre-Sale is currently in progress and the dates for their Main-Sales are yet to be announced as of writing. It requires you to be Registered, Whitelisted and KYC Verified in order to participate in the ICO.
The Founders and rest of the team has adequate experience in Finance, Software Development, Strategic Management, Marketing, Blockchain, HR, Community Management and Design respectively. The advisory board consists of experienced Analysts, Businessmen, Investors, and Entrepreneurs who also bring along their expertise in fields of Marketing, Data Management, Growth Advisor, Business Development, Blockchain, Investments and Finance.
Conclusion
They have a really solid vision and team with experienced advisory board that they can fall back on for any advice. They plan on making an already customer friendly industry even more accessible, secure, decentralised and transparent to use. This also lets the lenders enjoy more benefits and peace of mind than before.
Even though there is quite a lot of similar projects, they could gain a lot of market traction if their ideas are implemented properly. All that remains is for the Team to deliver on their promises.
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 - prince0200
Profile - https://bitcointalk.org/index.php?action=profile;u=1807689