Search results
Results from the Tech24 Deals Content Network
Sample letter of explanation While the exact content of your letter depends on your circumstances, you can use this sample letter of explanation to a mortgage lender as a template: Document
When you pay off your mortgage, your lender will provide you with paperwork to show you have paid off your home loan in full. You must collect all the necessary paperwork, and in some cases ...
A proof of funds letter is a document providing evidence that you have enough liquid assets, or cash, to buy a home with a mortgage. You’ll need this paperwork to demonstrate to the lender and ...
Revolving credit. Revolving credit is a type of credit that does not have a fixed number of payments, in contrast to installment credit. Credit cards are an example of revolving credit used by consumers. Corporate revolving credit facilities are typically used to provide liquidity for a company's day-to-day operations.
Charge-off. A charge-off or chargeoff is a declaration by a creditor (usually a credit card account) that an amount of debt is unlikely to be collected. This occurs when a consumer becomes severely delinquent on a debt. Traditionally, creditors make this declaration at the point of six months without payment. A charge-off is a form of write-off .
A mortgage gift letter is a document that helps satisfy the requirement that a borrower’s down payment funds come from legitimate sources. The letter involves the giver verifying, in writing ...
Offset loan. An offset loan is a type of lending arrangement, usually for a mortgage, in which a borrower also maintains a savings account with the lender. Instead of receiving interest on the savings account, the interest payment due on the loan is calculated only on the net balance of the loan minus the savings account.
There are a few tried-and-true ways to pay off your mortgage early — simple changes like making an extra monthly […] This was originally published on The Penny Hoarder, which helps millions of ...