Coastal finance company personal loans

Why Do Lenders Require Them. Cash-reserve requirements are intended to provide a safety cushion in case the borrower suffers a financial setback (such as the loss of a job). With extra money in the bank, the homeowner would be able to cover his or her mortgage payments for a few months.

So its basically a foreclosure-avoidance strategy. But theres a major flaw with the concept of cash reserves. In theory, the borrower could spend that extra money two days after closing.

Coastal finance company personal loans

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If you accept these terms, the lender will deposit money directly into your bank account as quickly as the coastal finance company personal loans business day.

Coastal finance company personal loans

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Coastal finance company personal loans