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Can a lender sell your loan to another company?

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βˆ™ 2011-08-03 20:01:45

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Yes.

How many times can the loan be sold to other companys in a year

2011-08-03 20:01:45
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How do you get rid of a car once you have signed the contract and your apr is really high?

Sell it to someone else, and pay the difference in what you sell it for and the balance on the loan. Or you could try to refinance the car with another lender at a lower interest rate.Sell it to someone else, and pay the difference in what you sell it for and the balance on the loan. Or you could try to refinance the car with another lender at a lower interest rate.


Can a company sell a student loan to another company?

In the US, yes it happens quite often.


Can you sale the car without the loan cosigner's permission?

If they are not on the Certificate of Title you can sell the car. However, generally, the Title is held by the lender until the loan is paid off. You cannot sell a car without the Certificate of Title.If they are not on the Certificate of Title you can sell the car. However, generally, the Title is held by the lender until the loan is paid off. You cannot sell a car without the Certificate of Title.If they are not on the Certificate of Title you can sell the car. However, generally, the Title is held by the lender until the loan is paid off. You cannot sell a car without the Certificate of Title.If they are not on the Certificate of Title you can sell the car. However, generally, the Title is held by the lender until the loan is paid off. You cannot sell a car without the Certificate of Title.


How can I sell a car that has a lien on it?

If you are selling the car for enough cash to pay off the balance on the loan it is simple. Simply take the buyer with you to the lender and pay off the loan. You will get a lien release that you then take with you and the buyer to your DMV and transfer the car over to the buyer. If you are not getting enough to pay off the loan, then you have 2 choices. Ask the lender to allow the buyer to take over the payments, or pay off the loan with money from another source. You cannot sell the car without a lien release from the lender, so you must talk to the lender.


Can you sell your car if it is being used in a cross collateral loan?

No, it has a lien on it. You cannot sell it without permission from the lender.


What is meant by a mortgage?

A mortgage is a loan with your real estate as security for the loan. If you fail to make regular repayments of the loan the lender can take possession of the real estate and sell it to repay the loan.


Can your wife sell your car if she co-signed on the loan?

She can if she is listed on the Certificate of Title as an owner.However, generally, the Title is held by the lender until the loan is paid off. You cannot sell a car without the Certificate of Title.She can if she is listed on the Certificate of Title as an owner.However, generally, the Title is held by the lender until the loan is paid off. You cannot sell a car without the Certificate of Title.She can if she is listed on the Certificate of Title as an owner.However, generally, the Title is held by the lender until the loan is paid off. You cannot sell a car without the Certificate of Title.She can if she is listed on the Certificate of Title as an owner.However, generally, the Title is held by the lender until the loan is paid off. You cannot sell a car without the Certificate of Title.


How do i sell a wrecked car i still owe money on?

You cannot sell a car you have a loan on if the lender has a lien on the vehicle. You will need permission from the lien holder to sell the car. If the lender has no lien on the vehicle then you can sell it if you wish. The title will list any lien holder.


How does real estate foreclosure work?

Generally and briefly: You transfer your ownership of your property to a lender in exchange for a loan of money. If you pay off the loan the lender will release its interest in the property. If you don't pay off the loan and stop making payments the lender can take possession of the property and sell it to a new owner in order to get back its initial investment.


If you can't afford your auto loan but owe more than you can sell the car for is there any way to get out of it without having it reposessed?

Yes. Talk to the lender and tell them you want to sell the car, give them the proceeds from the sale, and take out another loan for the balance due. It can be a personnel loan or use something else as collateral. Do whatever you can to avoid having the car repossessed.


What lender will loan money to people with really bad credit?

A pawn shop will, because you must give them something to get the loan and if you fail to pay they will keep it and try to sell it.


Can you sell a car that you still owe money on if the buyer takes over payments?

Yes, if the lender approves of the transfer of the loan.


Term describes the right of a lender to sell collateral to get back the principal if the borrower cannot repay the loan?

Lien is the term


Can you add someone to the title but not the loan?

No. A lender needs to have a "security interest" with anyone who has rights to the vehicle. If an owner is listed on the title they have the right to sell a vehicle. A lender does not want to be in a position where a non-borrower has rights over property used as collateral on a loan.


Can a company legally refuse full past due payment plus repo fees after the car has been repossessed?

Yes, this is because the loan agreement was voided when you were late with one payment.The lender has decided to auction or sell the car even though you can bring the loan current,they can do this.


How to sell your financed car?

If your car isn't paid off at the time you wish to sell it, things are a little more complex. You need to close the loan with your lender by paying off the balance with the proceeds of the sale so that you can present a clear title to the buyer. If however, you have to sell the car for less than you owe on it, you will need to pay the balance of the loan out of your own pocket to the lender.


If financing a car can you sell it?

Yes. You are responsible to pay off the loan you have on the car so make sure you sell it for at least that much. You can request a payoff amount from your lender.


Is it legal for a lender to sell your charged off debt to another lender?

Yes, it is a common practice especially when it relates to credit card debt.


If you can't make the payments on your 2004 SUV what can you do?

Renegotiate the loan with the lender. Sell the car to someone else or have them take over the payments. The very last thing you want to do is default on the loan.


How do you sell a car when you are upside down on the loan?

If you have funds to pay off the loan balance, you can sell a vehicle with negative equity. Example: you owe $10k on a car, but the best offer you have is $8k. You must be able to payoff the remaining $2k balance of the loan to your lender to fully absolve yourself of the financial obligations as a borrower. Transfering the title is another matter, and you should reference your state laws.


What is the difference between a mortgage broker and mortgage lender?

A mortgage broker does not lend their own money on the day of closing. They serve as an intermediary between the borrower and the actual lender. They are being paid for their expertise in placing their client with the best lender, rate and fees for that particular loan scenario. Traditionally the broker does not underwrite and approve the loan application. Their job is to gather the necessary loan documents and submit them to the chosen lender for approval. The lending decision (and risk) is ultimately in the hands of the lender. A mortgage banker (lender) lends their money on the day of closing. They originate, process, underwrite, approve, close and fund the loan. Usually the lending decision is made by their own underwriter and the loan is funded in their name. Many mortgage bankers then sell the servicing of the loan to a third party after the closing. None of the conditions of the loan can change, just the name of the mortgage servicer.


If your loan is current and you turn the vehicle back in to the lender can it still be reported as a repo?

YES! A repo is a repo. If you turn the vehicle in to the lender and stop making payments this is called a voluntary repossession. The lender will sell the car and you will be responsible for the difference in what the car sells for and the balance on the loan. It will be reported to all 3 credit bureaus as a default on a loan, and your credit will be ruined for 7 years. You would however save to repo fees such as towing. Do not do this. Call the lender and work something out if possible.


You got a loan for your dad how can you get it out of your name and in his?

If your are referring to a co-signed loan, where you guaranteed a loan for your father, then you are generally not able to remove yourself from the loan until it is repaid unless the lender agrees, and determines your father no longer requires a co-signer. To transfer a loan that is completely in your name from yourself to your father, he would have to obtain approval from the lender. Generally, a lender is not obligated to consider this unless the loan was originally issued as "assumable". Most mortgages, for instance, are assumable. This means that you could sell your house by having a qualified buyer assume your mortgage upon approval from your bank.


Do you have to pay the finance company if the tow people sell your car?

Yes, the loan from your finance company is a legally binding contract between you and them. You are solely responsible for the fulfillment of that loan.


What is the best way to get out of a costly auto loan and avoid repossesion?

Contact the lender and explain the situation. They may be able to rearrange the loan so that you can make the payments. You could also sell the car and pay off the loan. If you are upside down on the loan, ie owe more than it is worth, you may be able to sell the car, give the lender the amount it brings, and take out a personnel loan for the balance. Bottom line is do all in your power to avoid having the car repossessed. If they repo the car you will be responsible for not only the difference in what they sell the car for and the balance on the note, but also the repo fees. Your credit will also be ruined for 7 years. Don't let it happen. Talk to the lender, ASAP.