How does one get a home loan without guarantor?
There are many Public sector Banks/ Pvt. Banks/ NBFCs who don't ask for a guarantor for home loan. Let me explain how a home loan application is processed in a bank.Basic documents required:1. KYC- PAN, Aadhar/ Voter-ID/ Passport etc.2. Latest 3 months salary slip( if salaried).3. Last 2/3 years ITR/ Form 16.4. Last 6 months bank A/C statement.5. Documents pertaining to the property to be bought.6. Statement of existing loan A/Cs (if any)After collecting these documents, Bank will check your CIBIL score.If CIBIL score is OK, your repaying ability will be checked. Normally banks are ready to deduct 40-60% of your monthly income as your EMI.e.g. Suppose I have applied for a home loan of Rs. 20 Lakh. At the rate of 9.70%(rate for most of the banks as of now) p.a. for 20 years the EMI would come around Rs.19,000. So, my salary must be between 35-40K to allow this much deduction. NBFCs may allow a deduction of more than 60% too as I have seen in many cases.Now, if suppose your income is not justifying your EMI and you want a higher loan, you will have to add a co-applicant who should be earning. Your parents, spouse, siblings can be a co-applicant. But there are conditions on adding siblings as a co-applicant and many banks avoid this. But parents and spouse are happily accepted. Banks will club the income of both applicants and you will become eligible for a higher loan.If everything is in place till this step, Banks will do due verification of your residence, work place and property to be bought. Legal verification of the property will be done. Valuation will be done. If all these reports are satisfactory, here you are happy and smiling with your sanctioned loan.Now coming to your question, did you see any of the above steps asking for a guarantor? No. Actually Banks or NBFCs insist on a guarantor as an added security for the loan. Many banks don't ask for it as your property will already be mortgaged with the Bank/NBFC as a security. Many a times banks ask for a guarantor if they are not fully satisfied with borrower's credentials but want to santion the loan anyway. So, you don't need a guarantor if you approach a organization after a little research about their requirements and if you are a healthy customer.Hope this helps. Good luck with your loan application.
Is there any way to borrow money against a deed?
Most banks and of course all lenders deal with mortgages, those are loans secured with the deed.
Can you buy a house without your spouse knowing?
You can, however most states have community property laws and the property will be half hers no matter if you like it or not. The spouse must be on the papers if you are using her income to be considered for the loan. Honesty is the best policy.
Can my husband sell off our house in UK without my consent?
i am british citizen and been living in england for many years. for the past few months i have been separated from my husband because of never ending problems in our married life. my kids lives with me and i am out of country these days for an unknown time period. the house in england where we used to live owned by my husband but it has got my signatures as well which were taken by a solictor while buying this property. now when i am out of the UK ,i heard from few of my friends that my husband is trying to sell our house as soon as possible and he even hasnt asked me(may be i am not the owner thats why OR i dont know whats going in his mind). anyway when i talked to one of the friends in uk, she told me to contact some solicitor on phone and ask him to send a letter to my husband to tell him that he cant sell the property because i am still his wife and lived in that house. our all documents and belongings are in that house. since i cant travel immediately to uk because of some reasons, what shall i do in this situation? can my husband do that without my consent? do i have any legal right on that house and to stop him from selling like that? if so, what shall i do that should b quickest to make him stop from selling the house?
Does a signature on a personal guarantee need to be witnessed and notarized? (In Virginia)?
If you signed for the loan with someone else, you are jointly and severally responsible for loan repayment. That means the lender can come after you for 100% of the debt. As for the signature guarantee, that is a separate issue. You are still personally responsible for the loan. Your story sounds suspicious because you wrote, "I do not think it is." You should be 100% certain of the documents that you signed and you need to keep copies of everything for many years.
Can a co signer on an auto loan refiance without the other co signers signature?
My daughter is not a minor, she is 23. The loan, title and registration were all in both their names. Some one, either my ex or his girlfriend forged my daughters name on the loan,title and regestration. I have heard taht if the new bank find out that the loan was abtained by fraud, they can demand the entire balance of the loan from my ex, and I have heard that what they did is a federal offence. I don't want to fly off the handle, nor do I want to approach them untill I have all the facts I need. He is in the military,so if what he did was truly a federal offence, I don't want to do anything that will destroy the 20+ years he has in, I just want to get her car back and hold them accountable for what they did
Can anyone sell your property without your consent or without you knowing?
The short answer is yes. Anyone can sell your property without your consent. Is it legal? No. Will you get your property back? Yes. Does this happen often?No. Extremely rare. A person who does this without a title interest in the property or authority from you commits a criminal act. It’s called fraud, but he is really “stealing” your property.The long answer is for someone to do this they would have to have a good knowledge and understanding of how real estate works, how titles are conveyed, all the legal documents required, and have a “buyer”. I’ve been doing this for almost 40 years, and I have only known of one case—-mine. Two years ago, a complete stranger from a different city offered properties in my town to real estate investors online. He sold my house(and many others) and issued the internet buyer a deed. Problem was, he had no title interest in the property. A complete fraud. It took a state investigator over a year to unravel his scheme and stop him. Not sure of the final outcome.My analogy would be this: Can anyone sell your car without your knowledge and consent? Well, yes. Is it legal? No. They would be committing a criminal act and be liable both criminally and civilly. And the “buyer” would have no right to your car.My experience is that it is a pain in the rear, nevertheless.
Hi can my husband sell our car with only his signature? or do you have to have both?
it depends on the name on the title or loan. if it is only in his name then yes if yall are both on the car then you both must sign it unless he has a power of attorney from you.