Join Date: Feb 2010
Location: Narragansett Bay
Thanked 224 Times in 209 Posts
Rep Power: 7
.....With loans, once they write the loan, they've written the loan, period......
Not so fast. This appears to be the case, as most loans are paid current and are not a priority, nor do most banks reconfirm these things.
However, if you find yourself in a bind and can't pay, there is nothing more powerful for the collection department at the bank than a strong case of fraud. If they can demonstrate intent to defraud, it is criminal. Although, just a civil action on fraud is much stronger than simply trying to get a judgement on a note or repossess collateral.
To view links or images in signatures your post count must be 10 or greater. You currently have 0 posts.
In the harsh marine environment, something is always in need of repair. Margaritas fix everything.