The context of the following conversation is After being told that they couldn't get a traditional load, Jordan had to use their home to secure the loan.:
Jordan says Well, the bank officially owns me now..
The friend responds What happened?.
Jordan responds You know how we wanted to renovate our home?.
The friend responds Yeah, you've been talking about it for a while..
Jordan responds We tried for a traditional loan, but they turned us down.  They did let us get a secured loan but we had to put up the house as collateral..
The friend responds I guess that is one way of making sure you make your payments.  At least you get to fix up the house the way you wanted it..