ROYAL BANK GRANTED MY 74 YEAR OLD MOTHER A 4 64,000. LOAN FOR A TRUCK.

I just wanted to include something i have personally gone through with
my elderly mother. At age 74 Royal Bank granted my mother a $64,000.00
loan for a truck.

My mother lives on a small pension but some how she was approved.
( I work Full time and dont qualify for a loan that size)
I dont understand HOW!!.

When the payments could not be made the bank was going to sell her home
way under market value to recover the cost. I had to step in and salvage
the situation and now the burden of debt is mine because i didn’t want to
see her in the streets.

Had i been aware when this deal was made it would not have happened.
How do these financial institutions approve large loans on small incomes?
They obviously know the plan in advance when the payments can not be made.
Very sad to see this happen alot and have our seniors lose there life’s work
over greedy banks.

I just believe this is another area of protection our seniors need.
Thank you for your time.

24/08/18

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Tags: Bank loans