Sunday, March 14, 2010

Is it legal to be required to pay loan insurance before a loan isissued?

Personal laon offer is requiring an insurance policy to be purchased before loan is issued.

Is it legal to be required to pay loan insurance before a loan isissued?
This is absolutely illegal in the US.
Reply:never heard of it. In the US? Only time that is needed is on something like a car loan or of course a mortgage.

lily

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