Refusing A Loan

Dear Mr. Donald,

We regret to inform you we are unable to approve your application for a loan of USD80,000. Our inspector checked out the property you proposed to mortgage and he is of the opinion that its present market value is not more than USD60,000 at the maximum.

If you would consider making an application for a smaller loan, our Loan Officer, Mr. Dick, will be glad to be of assistance.

Thank you.

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