A mortgage authorization letter allows a third party for the mortgage loan repayment options and details with the lender on behalf of the borrower. This letter is written by borrowers and are directed towards the financial system or the lender. It’s a legal document which gives authority to an individual to access and perform a particular work. The person granting the authorization may not be physically present. These letters are written to deal with the legal and financial issues.
In the process of mortgage authorization, there are three parties involved; one party is responsible for granting the authority, one is involved in the transaction and the other for performing the given authority. These letters consist of either dealing with a contract, or some other financial matters. Thus, it should be dealt precisely. The authorized party is responsible for all the circumstances be positive or negative created after that.
Use our free Mortgage Authorization Letter Sample to help you get started.