I have a home loan for which I am paying the monthly instalments. Now, I can get the current value of the mortgage as a liability.
1. should I include the house as an asset?
2. Should I include the amount included in the POF as an asset?
3. What else can I include as assets?
4. What if I don't declare any assets and only have liabilities and POF?
I have a home loan for which I am paying the monthly instalments. Now, I can get the current value of the mortgage as a liability.
1. should I include the house as an asset?
2. Should I include the amount included in the POF as an asset?
3. What else can I include as assets?
4. What if I don't declare any assets and only have liabilities and POF?
Hi Rohit - I submitted the application without showing the home loan document or the home as an asset. All I showed them was the amount in the bank as cash...
Hi Rohit - I submitted the application without showing the home loan document or the home as an asset. All I showed them was the amount in the bank as cash...
it is being asked to provide all the saving, investments and loans account details. So this one struck me. Did you mention all your different types of accounts or just the one with saving(Balance)?
You have been a great help to me. Thank u
I only gave them bank accounts and FD details for the amount of money that covers their coverage rule. Nothing more, nothing less. You should be good I guess but there is another post "how to nail the source of funds" question. Read through that as well.
I have a home loan for which I am paying the monthly instalments. Now, I can get the current value of the mortgage as a liability.
1. should I include the house as an asset?
2. Should I include the amount included in the POF as an asset?
3. What else can I include as assets?
4. What if I don't declare any assets and only have liabilities and POF?
The actually ask you to get the bank to write a letter that states:
1. Date when bank account was opened
2. Balances for the last 6 months
3. If you have a credit card with the bank then state the latest outstanding
The amount you have when you total these up should have enough to meet the criteria that is set for your case.
I have a home loan for which I am paying the monthly instalments. Now, I can get the current value of the mortgage as a liability.
1. should I include the house as an asset?
2. Should I include the amount included in the POF as an asset?
3. What else can I include as assets?
4. What if I don't declare any assets and only have liabilities and POF?