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individuals usually are expected to have higher equity contribution.

What is the Qualifying Criterion for a Mortgage Loan?

The qualifying criterion for a mortgage loan include the following:

  • One’s ability to repay the debt,

  • Sources of income, is there a guaranteed source of income,

  • Are there other sources of income - overtime, bonus, benefits derived from investments.

An institution may give a customer a specific term, which may extend beyond a certain age. However, the institution probably expects a balloon payment derived from investments which the customer may have. It may be a home that the customer has which he/she intends to sell, and then use the proceeds to pay off the total debt obligation. It may be the customer’s investments in any other form that would mature and on the maturity date and he/she would liquidate the debt.

Why Banks Advertise Someone’s Property for sale in the Newspaper?

According to the Mortgage Agreement, the lender has the option of selling the house by Public Auction. If someone is selling by Public Auction, it is expected that he/she will notify the public in some form. The banks usually publish in the newspapers that the property is up

for be

auction/sale at a particular place a Public Auction and therefore,

and time. the public

It should must be

60

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