Weiss Ratings, Florida-based ratings and research business, has issued a warning about the hazards of crypto mortgages in the present US economic situation. Milo, a Miami-based digital banking firm that offers 30-year mortgages backed by Bitcoin (BTC), Ethereum (ETH), or stablecoins as collateral, received special attention from the company. There are no down payments required, and the company’s lending rates range from 3.95 per cent to 5.95 per cent. #WeissRatings #MiloCredit Weiss Ratings issues warning over crypto mortgage risks: Weiss analysts are wary over the usage of volatile crypto assets as collateral for long-term property loans. https://t.co/2bhBDmajAb | https://t.co/bv9adjCGEk | https://t.co/FHLhKCQA7o pic.twitter.com/c5UObgZwKD — CryptoGator.co | Crypto and Forex News Aggregator (@eBargainsToday) May 3, 2022 Weiss analyst Jon D. Markman warned against such mortgages in a May 3 research, citing the dismal performance of equities and cryptocurrency this year, a housing bubble in the United States, rising interest rates, and the Federal Reserve’s forthcoming policy adjustments reasons. “The product seems to be like a win-win, assuming real estate and crypto prices keep rising, except there are signs both bets are unlikely to be winners in the near term. Bitcoin is off by 40% since it reached $66,000 in November 2021.” Markman did say that not all crypto risk is adverse, but it might be in the real estate industry, be...
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