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Payment before receiving a loan

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Reference no: EM131055690

1) What is the purpose of requiring that a borrower make a down payment before receiving a loan?

2) What is lien and when it is used?

Reference no: EM131055690

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Payment before receiving a loan : 1) What is the purpose of requiring that a borrower make a down payment before receiving a loan? 2) What is lien and when it is used?
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