READ your contract. You likely agreed to pay ALL fees and charges need to COLLECT the account. The reppo was a tool used to collect the account. Yours wasnt the first contract they wrote. Lenders have CLOSED all the loopholes long ago.
Depending on the state of residence, it is possible for a lender to still repossess your car if you get caught up on the payments. Certain states allow a lender to request full payment of an auto loan when borrowers fall behind, even if they have caught up on past due payments.
I assume you took over the payments after the other owner missed payments. If you are caught up on all the payments then there would be no reason for them to repossess the vehicle. You need to contact the lender ASAP to make sure everything is fine. Failure to contact the lender may create a bad situation.
In most cases a lender will file a notace of default after 3 missed payments.
Yes, Mortgage Insurance Premiums Payments do have to be es-crowed by the lender.
The lender has the right to receive all the payments. A co-buyer has no rights TO the payments.The co-buyer is equally responsible for making the payments.The lender has the right to receive all the payments. A co-buyer has no rights TO the payments.The co-buyer is equally responsible for making the payments.The lender has the right to receive all the payments. A co-buyer has no rights TO the payments.The co-buyer is equally responsible for making the payments.The lender has the right to receive all the payments. A co-buyer has no rights TO the payments.The co-buyer is equally responsible for making the payments.
You know how far behind you are, sooo, you should have that amount READY to send/give the lender to have any hope of continuing the loan relationship. In any case, you will have to contact the lender to resolve the issue, if only to tell them where to p/u the car. It will take much convincing to get the lender to OK your plan. If you need more info, email me.
Brandon, yes, the lender can refuse payment. That usually means you have waited toooo long to get any help from the lender. As for the catching up the notes,that question should be answered by the LENDER. You neeed to talk to the lender NOW. Good Luck
You and the person wanting to take over the payments, go in a sit down with the lender who holds the note, and talk about it. The lender must agree to this for it to happen.
You need to contact your lender to see if they will work with you on getting caught up on your back payments. Some state laws allow the lender to require you to pay the vehicle off in full and some state laws require the lender to return the vehicle to you if you can catch up on the amount you are behind. You need to check your state law and contact your lender.
At the discretion of the lender, a house can be foreclosed after a period of missing payments.
Thats depends on the contract the "repoman" signed with the lender before he/she started out on that little adventure.
In the state of California, the lender of a repossession may only charge fees that it incurs and that are in the contract. If the lender pays for the storage or houses the repossession, then yes, the lender is allowed to charge both a repossession and a storage fee.
Your lender, or the lender you are considering. The amortization is going to break down payments further, so you have to consider what you still owe to the lender.
When you bought the car, the lender paid the dealer for the car, and you are making payments to the lender, plus interest. The lender will not help you avoid paying him.
As long as you make your payments the answer is no.
"""the co-signer do if the lender can't"""????????? New one on me... IF the debtor/signor cant/wont make the payments, the co-signor is obligated to make the payments to the lender. The co-signor can demand/beg/plead/con/coerce the signor to let co-signor have possession of the collateral just like the lender will if the payments dont get made. Does that help?
You must talk to the lender who has a lien on the vehicle. It is up to them if you will be allowed to take over the payments.
Talk to the lender, or you can file Chapter 13 Bankruptcy to lower the payments where you can afford them.
NOT unless the LENDER agrees before you do IN WRITING.
It's called repossession. The lender owns the property, the homeowner is making payments.
Deed Of Postponement(DOP) If the customer has a mortgage with Lender 1 then this lender already has a charge at the land registry. How if the customer approaches Lender 2 for a Secured Loan, then Lender 2 should send a DOP asking Lender 1 if they agree for them to be second charge holder. This letter gives Lender 1 priority over Lender 2 when it comes to releasing the charge. IF the customer is unable to continue with the mortgage and would like to sell the house, Lender 1 will first get the proceeds that the customer owes to them and if anything is left goes to Lender 2
Generally, when real estate is purchased the buyer must borrow the purchase money from a lender. The buyer enters a contract with the lender and one of the terms of the contract is that the lender can take possession of the property and sell it if the borrower defaults on the payments.Foreclosure is the legal proceeding by which a lender terminates a mortgagor's interest in the property after the mortgagor has failed to make the payments. The foreclosing lender takes possession of and sells property.
A lender can use a credit card in various different ways. They lender can issue the credit card and make money from the interest. The lender can also take credit card payments from the borrower.
Contact the lender and get their approval.
Call your lender.