Bank loan foreclosure letter
1 year ago
I take a loan from jm Financial home loans ltd. I applied for foreclosure letter on 30.10.2022. Company is saying they will take 30 days for providing foreclosure letter. But why should I wait for 30 days? May i get foreclosure letter before that?
A.Dear Client,
First of all you have provided a future date of October 30th on un the question. Anyways, the fact of the matter is when you give an application of foreclosure which is not the normal procedure for a bank as they tend to lose out the future accrued income through interest hence they have to present the case to higher ups and seek their approval to allow for foreclosure. That could be the reason that they are saying that they will take 30 days. You can hard press them to do it little early if you cannot wait.
First of all you have provided a future date of October 30th on un the question. Anyways, the fact of the matter is when you give an application of foreclosure which is not the normal procedure for a bank as they tend to lose out the future accrued income through interest hence they have to present the case to higher ups and seek their approval to allow for foreclosure. That could be the reason that they are saying that they will take 30 days. You can hard press them to do it little early if you cannot wait.
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