Posted on: 07th Sep, 2006 03:30 am
can a lender approve himself for a loan???
Hi Guest,
Never heard of such a thing. I don't think this is possible.
Let me consult some of my friends in this community and I shall confirm it and let you know as soon as possible.
Thanks,
Caron.
Never heard of such a thing. I don't think this is possible.
Let me consult some of my friends in this community and I shall confirm it and let you know as soon as possible.
Thanks,
Caron.
Quite strange, don't think it is possible!
Hi, the question looks completely illogical to me.
On the statement "can a lender approve himself for a loan???", one question is arise my mind is it possible that a lender will take a loan from himself.
It will never possible. That means, he has to take a loan from another lender. So in that case, how he can approve that loan. It is completely depend on that lender to who is lending the money.
Thanks
On the statement "can a lender approve himself for a loan???", one question is arise my mind is it possible that a lender will take a loan from himself.
It will never possible. That means, he has to take a loan from another lender. So in that case, how he can approve that loan. It is completely depend on that lender to who is lending the money.
Thanks
Hi Guest,
It's simply not possible. If a lender is looking for a loan, he has to approach another lender for it.
Caron.
It's simply not possible. If a lender is looking for a loan, he has to approach another lender for it.
Caron.
Why it is not possible????? If a lender nned to buy a house then what he will do. Who will approve him??? And if he his himself a lender so why can he approve himself and grant himself a loan ????
Hi,
A lender grants loan from his funds. So, if what you say is possible, does that mean, he will grant himself a loan and that too from his own pocket ?? Just think, is it logical? Also, it means that he will be paying monthly none but to himself. Sounds strange!! :shock:
If the lender needs to buy home, he will go for cash-purchase and if he doesn't have the required money, he needs to contact other lenders for a loan.
A lender grants loan from his funds. So, if what you say is possible, does that mean, he will grant himself a loan and that too from his own pocket ?? Just think, is it logical? Also, it means that he will be paying monthly none but to himself. Sounds strange!! :shock:
If the lender needs to buy home, he will go for cash-purchase and if he doesn't have the required money, he needs to contact other lenders for a loan.