Posted on: 02nd Jun, 2009 02:48 pm
My new mortgagor insists that as a condition of the loan, they may have the payments automatically withdrawn from our bank account. This is a commercial loan on commercial real estate.
Ultimately, if the lender is willing to loan you the money, they are able to make the rules. Some lenders may require something similar to this for the incentive of a lower rate. I hope this helps...
MissMuriel
Welcoemto the forum.
Probbaly they can put these conditions to protect them self incase you stop making payments.
So this means 1st of every month they will take thier money from your account, if you like it or not. And if you do nto have suffcient funds, then you will end up paying overdraft fee.
Good luck and feel free to ask.
Realgeni
-Good credit is easy to achieve, as logn as you use it responsibly.
Welcoemto the forum.
Probbaly they can put these conditions to protect them self incase you stop making payments.
So this means 1st of every month they will take thier money from your account, if you like it or not. And if you do nto have suffcient funds, then you will end up paying overdraft fee.
Good luck and feel free to ask.
Realgeni
-Good credit is easy to achieve, as logn as you use it responsibly.
