prolly nothing... https://www.streetinsider.com/PRNewswire/Milo+Launches+First+U.S.+Crypto+Mortgage/19467945.html Milo Launches First U.S. Crypto Mortgage Article Consumers can now leverage their digital assets to purchase real estate January 18, 2022 7:00 AM EST MIAMI, Jan. 18, 2022 /PRNewswire/ -- Milo, a financial technology company that is reimagining the way global consumers access financial solutions, today announced its new crypto mortgage. This is the world's first crypto mortgage offering that makes it easy for crypto investors to utilize their digital assets to purchase US real estate. The digital banking leader will now expand its offerings to serve the rapidly growing crypto segment. Milo launches first U.S. crypto mortgage that makes it easy to utilize digital assets to purchase U.S. real estate. Milo's clients will be able to pledge their Bitcoin to purchase property and finally qualify for a low interest rate 30 year crypto mortgage. This solution will allow clients to continue to own their bitcoin and diversify into real estate, all while keeping the potential price appreciation of both. Clients will be able to finance 100% of their purchase with no dollar down payments required and do this faster than a conventional mortgage. By combining the security of real estate with the liquidity of digital assets, Milo is able to bridge both the crypto and real world. Milo has been developing this innovative mortgage since 2021 and expects it to be available to most applicants in early 2022. The company has a large waitlist where clients have been granted early access to qualify for loans. "The world is changing rapidly, with how consumers make and invest their $2 trillion in crypto wealth," said Josip Rupena, CEO and Founder of Milo. "Clients expect us to come up with innovative solutions to extend credit to millions of great consumers. The existing ways for crypto consumers to access home credit has left them with unintended tax liabilities of selling for a down payment or worse the opportunity cost of seeing their crypto increase in value. There are countless stories of people buying property with bitcoin proceeds only to see it increase in value and be worth millions more." The company's other mortgage solution for foreign nationals has originated millions of dollars in loans already and has seen applicants from over 63 countries. As a direct lender that is already licensed, audited, and insured, Milo is able to stand behind its commitment to lend its clients. "This is an exciting time for the crypto and mortgage industries," said Rupena. "With our new crypto mortgage, we can expand our offerings to consumers that were previously denied by other banking firms just for having crypto. We have an opportunity to make sure that doesn't happen anymore and their bitcoin wealth can now help them buy a property." "Milo's decision to expand their financial flexibility with crypto mortgages is a groundbreaking achievement for advancing the United States' dominance in crypto. To become the Capital of Capital, Miami needs companies like Milo who are willing to innovate and ideate." said Mayor Francis Suarez. About Milo: Milo is a financial technology company reimagining the way global and crypto consumers access financial solutions to 'Unlock what's possible.' By building a proprietary technology stack from the ground up and bringing on a world-class team, the company has enabled millions of dollars in US home loans. Milo is passionate about driving digital transformation of financial services, solving real problems, and making a meaningful impact in people's lives. Milo's investors include QED Investors, Metaprop, and 10X Capital. For more information visit www.milocredit.com or email info@milocredit.com.
I just saw an ad for figure.com, with a blockchain mascot. It is a loan company... I call the top. BTC will never ever reach over 60K...
I would never call a top on something that can be pumped with fake money. Tethers can print another 50 billion and push BTC past 100k.
https://www.milocredit.com/ https://www.milocredit.com/crypto/ No credit check and no down payment. I think they will be hiring in their repo department soon.
Nah, dude, so long as you know to manage your risks and finances You can get a $1M crypto-backed loan on BlockFi, Celsius, Nexo, or Ledn without credit check now, but this Milo product is geared for mortgages so lower interest and longer term But do you have bitcoin or cryptos? coz if you don't then you're just a bitter no-coiner who cannot take advantage of this new financial product
Doubt, they can not even shut down Tether which has a proven track record on consistent lies. Crypto lives in alt reality.
Maybe I misunderstand the concept (the no down payment, no credit check part -- not your personal attacks:), but what stops someone from doing this: Buy a house with zero down, and give your private key as collateral. Do something with the house for a short time (rent it, flip it, loot it, endless party, etc.). Send your crypto to your other wallet before the first loan payment is due. Keep the house until it's repossessed. ? If you actually have to send the crypto to the lender as a condition of loan approval, this strategy won't work. But then that's essentially the same as a down payment (or worse because there could be tax consequences for sending the crypto).
Touche' on the personal attack I consider your snide remark about hiring for repo dept a diss of the cryptos people unable to manage their financial positions and risks Anyway, let's walk through this, I won't follow your numbered items so as not to confuse everyone. I have experience with BlockFi crypto-backed loans but have paid them off since I've cashed out cryptos to fiat last year The mortgage loan is backed by the btc asset, not so much the house so if you want to buy a $1M house, you send $1M of btc to their wallet or whatever their requirements are, possibly more btc You can withdraw the bitcoins when you pay off the mortgage. You may need to deposit more btc if the price of btc goes down a certain amount to keep the LTV in-line with their risk management They are providing a guarantee to the bank providing the mortgage loan You pay the monthly dues and the property taxes, everyone happy No one cares about the downpayment since the loan is fully backed or overcollateralized with a highly liquid digital asset that trades 24/7/385 This is low risk to Milo Milo earns over 20% APY providing securities lending, prime brokerage to institutional traders, same as BlockFi, Celsius, Nexo, Ledn and a bunch of other ones It's not a downpayment and there's no crypto sale. It's a loan backed by the pristine collateral digital asset Bitcoin PS: Milo does not care about credit or SSN because the SSN will be captured by the bank/loan company and you can have 600 credit score but the loan is fully backed by the btc, no risk to them Ledn also going in the same business https://www.theblockcrypto.com/post...ies-b-funding-bitcoin-backed-mortgage-product