Posted on: 02nd Apr, 2011 12:41 pm
Hi,
Can a bank ask for a Chattel Mortgage AS WELL AS the personal loan for the personal property on rented land.
Shouldn't it be one OR the other?
Thanx!
MP
Can a bank ask for a Chattel Mortgage AS WELL AS the personal loan for the personal property on rented land.
Shouldn't it be one OR the other?
Thanx!
MP
Hi Maiden PEI,
As far as I know, you're correct. The bank cannot ask for both. It should be either Chattel mortgage or a personal loan on a rented land.
Thanks
As far as I know, you're correct. The bank cannot ask for both. It should be either Chattel mortgage or a personal loan on a rented land.
Thanks
I'd think that the lender can ask for whatever it wants. If you refuse to provide what the lender wants, they don't give you the loan. It's really pretty simple - you ask, they give you their requirements, and you either meet or not meet the requirements. Meeting the requirements means you get the loan; not meeting them means you don't get the loan.
The alternative? Go to another lender and try again.
The alternative? Go to another lender and try again.
chattel is personal property. the same
