A promissory note or an agreement must always be drawn before lending money to someone. Even if you are lending money to a friend or a family member whom you trust, it is better to agree to the terms on paper rather than get involved in disputes at a later time. A money loan agreement… Read More »
If it is a loan that you are looking for, you have many avenues that you can explore. You can apply for one at a local bank – preferably one where you hold an account – or you could ask your boss for one. Asking for an advance on a salary can be considered a… Read More »
Writing a loan application letter is the best way of obtaining a loan from your office or a bank. Depending on what type of loan you want, you need to provide specifics in your loan application letter. If you are looking for a mortgage or car loan, you will have to follow the instructions that… Read More »
A lot of tact needs to be exercised when asking for a money donation from someone. Whether it is a company or an individual from whom you are requesting a donation, it is important to be to the point and give details of what the donated money will be used for. Well-drafted donation request letters… Read More »
Paying off a loan completely is a great source of relief for us. Once we have repaid a loan in full, we can rest assured that a huge chunk of our salary will remain intact from the next month onwards. If you have come into some money and want to repay your loan in full… Read More »
A personal loan agreement letter is charted out for the purpose of laying down loan terms and conditions between a borrower and a lender. It includes information of both the borrower and lender along with specifications of how a loan is being offered and what terms it will be paid back on. Personal loans are… Read More »
So you have seen that fancy sedan sitting in the car showroom on your way to work and contemplating how to go about being its owner? There is no need to fret! If you have good credit history and a steady job, you can always apply for a car loan to buy your dream car.… Read More »
It is unfortunate that borrowers cannot always fulfil their mortgage obligations and fall behind on their payments. Working for a lending company, you may come across many situations in which mortgage payments have not been paid for months owing to unemployment, divorce or any unforeseen circumstances that borrowers have been struck with. While mortgage finance… Read More »
A pre-qualification letter is sent by a mortgage company to a prospective borrower, stating that he or she is eligible for a certain type of loan; a pre-approval letter is sent only when all investigations are completed and a prospective borrower is informed that he can apply for a loan. Mortgage prequalification letters are usually… Read More »
A pre-approval letter is somewhat different from a prequalification letter in the sense that the former is more profound. Where a prequalification letter is written following basic prospective borrower information, a preapproval letter is issued only when a verification of the information has been done. It takes much more time to handle preapprovals as opposed… Read More »
It is good if you have managed to pay off your mortgage and are now a proud owner of a house! So now that you do not have any more liabilities as far as your mortgage is concerned, you can relax and enjoy the home that you have lovingly built over the years. But do not… Read More »
Proof of employment is often required by banks before they can process a home loan application. Banks need to know that the applicant is capable of paying the loan back – an employment verification letter helps in this. It is important for banks to have this letter as part of an applicant’s loan application as… Read More »