
If you have ever applied for a mortgage, a car loan or a credit card, you have probably encountered the term "pre-approved". But have you ever wondered what, exactly, does that mean? It's industry jargon that makes banks and other lenders happy - and since he who has the gold makes the rules, the rest of us do our best to cooperate. And in the end, as long as you get the loan, you don't really care. But if you think about it, in most cases, it doesn't make much sense. Either you're approved or not; right? Where else have you needed approval? From your parents? Your family and friends? … [Read more...]























