Bank Loan

Hello all The bank called and the LOAN IS APPROVED!!!!! YEAH!! just a few more hurdles to jump and I will be having SURGERY!!! I'm on my way now!!! Mare

How does one explain to a bank the reason for the loan and be able to get it? I doubt any bank would loan to me, but I am curious. Mary

I am not sure, but I would bet it is secured against something.. a house or a cleared vehicle. A bank will loan you money for any amount, as long as it can be secured... which means you dont' pay the loan, whatever you secure the loan against is theirs

As April said, it is a secured loan---a home equity loan. I didnt have enough of my own...so my mom and step-father (bless their hearts!!) have put their home up for me. As far as explaining it....there is a place on the application asking the purpose of the loan...my application says "surgery". I found out about this bank....b/c it was advertised during my seminar. This bank believes is the Caritas Bariatric program and they are showing their support by backing the patients. This is not an easy thing...nor is it a minor decision. I will be paying on this for the next TEN years! (unless, cross your fingers, I can get it paid off early). My payments are about 250 a month. (to pay off $20000.) Good Luck mare