Posted on: 21st Feb, 2013 12:50 am
Hi there… One of my friends got pre-approved for a mortgage. But there are certain surprising things He had some credit card debt in the range of 24K. He was saying that he was approved and also somehow during the approval was able to cover his debt? He also said that his debt is now gone… How can that be possible? Has anyone heard of such a thing? Maybe the bank approved him for the extra 24K? How do you explain this?
Hi Guest,
As far as I know, the bank will not approve a person for some extra loan to pay off credit card debts. Also, a lender cannot swipe off credit card debts. You need to check out whether or not your friend had paid off the debts!
Take care
As far as I know, the bank will not approve a person for some extra loan to pay off credit card debts. Also, a lender cannot swipe off credit card debts. You need to check out whether or not your friend had paid off the debts!
Take care
Hi Guest!
Welcome to forums!
I agree with Sara. I think your friend is mistaken. Why will a lender go out of the way and lend extra to your friend to pay off his credit card debts? I think there has been some misunderstanding in this regard.
Feel free to ask if you've further queries.
Sussane
Welcome to forums!
I agree with Sara. I think your friend is mistaken. Why will a lender go out of the way and lend extra to your friend to pay off his credit card debts? I think there has been some misunderstanding in this regard.
Feel free to ask if you've further queries.
Sussane