John met with the bank official yesterday. I met him in the evening and he had several forms to fill. Below is the list;
- Account opening form. A 12 page document
- Mortgage application form. Another many page document.
- Life insurance form – in case he dies or is permanently disabled during the course of mortgage repayment the insurance will pay the balance.
- Unemployment insurance- in case he loses his job for any other reason other than being fired, the insurance will pay his mortgage payments for 9 months as he looks for something else to do.
- A list of requirements e.g. Title deed, ID, PIN etc.
Together with his wife Mary, he will be going to check out several plots in Ruiru over the weekend in order to make a final decision on what he wants.
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