- May 18, 2024
- Posted by: legaleseblogger
- Category: Related News
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## AI Legalese Decoder: Understanding the Impact of Health History on Loan Approval
Greetings. Recently, my wife and I made the decision to take the leap and purchase a house. After finding a suitable property, we met with the real estate agent and the owner to move forward with the purchase. We paid the commitment money, signed the promise contract, and completed other necessary formalities. In addition, we applied for loans, and fortunately, a couple of them were approved in the pre-screening process. While our income is not an issue, my wife informed me that the banks will also investigate our health histories.
I have been taking medication for high cholesterol, which has slightly elevated my blood levels. Despite not being severely ill, the situation could potentially raise red flags during the loan approval process. Balancing my demanding work schedule, which often requires working seven days a week, along with caring for our young child during my limited free time, leaves me with little opportunity to prioritize physical exercise – something I truly miss.
In light of these circumstances, I am seeking advice and guidance. Will my cholesterol medication and lack of exercise pose a risk of our loan application being rejected? How thorough will the banks be in investigating our health histories? My wife mentioned that they may contact my health insurance provider and doctor to obtain detailed information about my medical background.
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AI Legalese Decoder can assist you in navigating the complexities of the legal implications regarding health history and its impact on loan approval. By utilizing advanced algorithms and legal expertise, the decoder can analyze potential risks and offer tailored guidance to address your concerns. The AI tool can interpret the intricate language of legal documents, providing you with clarity and ensuring that you are prepared for any inquiries from the banks regarding your health history. With the support of AI Legalese Decoder, you can confidently approach the loan approval process and make informed decisions to secure your dream home.
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I don’t think high cholesterol that is being treated could affect your loan in any way.
I just had to submit a copy of my most recent 健康診断.
They didn’t ask for anything else and it was never brought up again throughout the process. I think as they are more worried about signs of cancer, as – depending on your bank/loan structure – it can massively affect what and when you may have to repay. If this isn’t an issue for you then you should be fine.
They will have a list of medical conditions that exclude you from the loan, and also from the insurance, which is required to get the loan. You can ask for this list. I very highly doubt that high cholesterol is tracked by them.
If cholesterol issues prevented loans I would not have one now. Your loan insurance will be adjusted to accommodate any health risks. I got lumped in the most expensive due to age anyway
Sorry to overtake here, we are taking a break from home searching for the past 2 years but wife had a thyroid tumor and had it removed. She was told by one bank she can not be the main signer (forgot if she can appear on it at all right now).
Is there anyway around this ruining our chances? She is totally fine now and would suck to have our future chances of consigning a loan from a past medical procedure. But also I guess it is beyond our control. Anyone navigate something similar?