Not directly, and not always. In order to put a lien on a house a creditor must have a "judgment" against the person who owns the house. In order to take a judgment, the creditor usually must repossess the car, sell it at a commercially reasonable sale, credit the proceeds (less costs of taking and sale) to the account, and demand the remainder as a "deficiency" balance. If the debtor doesn't pay the "deficiency", the creditor can sue in the civil courts. The debtor usually has 30 days to answer the deficiency claim, and there are MANY, MANY defenses to deficiencies. For example...that the creditor did not give the debtor the option of a public or private sale; that the creditor, after repossession, did not give the debtor a fair opportunity to redeem the vehicle; that the creditor violated the consumer's rights in taking the vehicle without a court order over active and unequivocal protest; that the creditor overcharged the debtor on interest, finance charges, insurance premiums, documentation fees, etc. The debtor may even have a counterclaim against the creditor for violating repossession laws, which in any event would equal the finance charge plus 10% of the cash price. This is where an experienced consumer defense attorney is essential. Bear in mind, however, that the creditor can forget about the repossession of the collateral and sue directly on the obligation, which would make the debtor have to defend at an earlier stage.
Only if that person is on the contract cosigner etc. and no they cant take your house.
House repossession refers to the process by which a financial organization takes ownership of the house as collateral due to failed payments or inability to pay.
Typically, a house can be repossessed after 90 days of non payment by the mortgage holder. However, it is not illegal for repossession to begin after a missed payment, though this is extremely rare.
No. If you cosign on a car loan and the person defaults, the finance company can not take your house in this state. After the finance company seizes the car, both you and the other person would still owe the unpaid balance of the loan.
Home equity loans can be done through a person's personal bank, or though a the company which sold the house. And the person who owns, or in the process of owning the house is the one that can ask for an equity loan.
NO. They can't take what you don't have.
Yes. I would say because it just should. Who r u? LOSER bye...
http://www.pacode.com/secure/search.asp search the PA code vol. will make no difference
Only if that person is on the contract cosigner etc. and no they cant take your house.
House repossession refers to the process by which a financial organization takes ownership of the house as collateral due to failed payments or inability to pay.
Can I find out who the finance company is for FREE?
house/car repossession
check with your court house.
Typically, a house can be repossessed after 90 days of non payment by the mortgage holder. However, it is not illegal for repossession to begin after a missed payment, though this is extremely rare.
A voluntary lien would be a mortgage.A voluntary lien would be a mortgage.A voluntary lien would be a mortgage.A voluntary lien would be a mortgage.
No. The house is attached to the land, so, the land is included in the repossession.
No. If you cosign on a car loan and the person defaults, the finance company can not take your house in this state. After the finance company seizes the car, both you and the other person would still owe the unpaid balance of the loan.