Well yes. Because you still legally owe on the car. Just pay the 176 and be finished with it.
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.
Up until the day they sell the car. As long as you pay the repossession fees and make up all back payments plus any administrative charges. That is if the lender agrees which they do not have to do. You broke the contract when you failed to make the payments on time so they can refuse the payments and sell the car.
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.
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.
At the discretion of the lender, a house can be foreclosed after a period of missing payments.
As long as you make your payments the answer is no.
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.
"""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?
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.
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.