The property loan verification sheet is a document or rather a checklist which is used which gives all the details of the loan which has been taken out against a property. This verifies each and every aspect of the loan and is a comprehensive checklist.
It starts with the complete address of the property for which the loan has been taken. This also is dated as to when this checklist was undertaken. It mentions details such as the date the loan was taken, the amount of the loan which was taken, the kind of loan that was taken – if it was a FHA, VA, Con or Non-con. It informs of the maturity date of the loan and the interest that is charged on the loan as well. The details of the principal balance that is remaining are also mentioned and the details if the payments are current or not.
In addition to this, the property loan verification sheet mentions details about the outstanding late fees or the charges that are there and have been incurred. It also informs of details such as when the payment is due and incase there is a prepayment penalty amount, those details are mentioned as well. This prepayment penalty amount is the amount which is chargeable incase the loan amount is repaid before the due date which has been mentioned when the loan was taken out. It also has details such as the balloon details mentioned and incase the taxes as well as insurance is escrowed.
PROPERTY LOAN INFO VERIFICATION SHEET-ShortSale, 10.0 out of 10 based on 2 ratings