Can you refinance an auto loan when you owe more than it is worth?
Most people who are refinancing a car loan are, indeed, underwater. The reason is that your car value depreciates much faster than the loan is paid down.
Lenders understand that the LTV will be above 100%, which is why most have LTV threshold around 115-125% (depending on credit worthiness of the consumer).
To refinance an auto loan, work with your bank or credit union to pay off your existing loan and get better or more spread-out terms for a new loan. Often, it is not worth the hassle of refinancing, unless your current interest rate is 1 to 1-1/2 points higher than what you could get with a new loan. Read More
Even the most experienced of borrowers and financial mavens may not realize that the term "refinance," commonly used in conjunction with home mortgages and lenders, can also be applied to car loans. More importantly, yes, you can refinance your car loan in an effort to get yourself a better interest rate, a lower monthly payment, or possibly both. The only thing that is essential is that most lenders will require that you don't have an… Read More
More than likely if your credit is good you can still refinance a home that is valued at less than you owe. You would have to roll the difference in what it's worth and what you owe into the new loan. This would only be beneficial if the new loan had a much lower interest rate than your current loan. You can consult a mortgage professional for further details on your options regarding the situation. Read More
Zilliow have home refinance loan rates. Also you can find more information on MSN money. The company bank rate also have home refinance loan rates avalible. Read More
There are many ways one can refinance a home loan with bad credit. One can visit websites such as FHA or Mortgage Digger to get more information and apply for a loan. Read More
You own a condo and the loan is about to adjust can you refinance if the loan amount is more than the condo is worth?
Your lender or banker is best prepared to answer your question. You may need to leverage additional collateral to make up the difference. Read More
Mortgage refinancing can be done more then once. When looking to refinance your home loan make sure the closing costs don't offset the possible saving of the lower interest rate offered. Read More
The term HELOC refinance relate to something about equity to one's home loan. More specifically, one can learn this in online encyclopedias such as Wikipedia. Read More
Current interest rates are at historical lows. If you purchased your vehicle more than two years ago and currently have a high interest rate refinancing may lower your rate. Read More
One is able to learn more about refinancing a car loan at several different online locations such as the following websites: Auto Trader, Federal Auto Loan, Capital Auto Loans, and Lending Tree. Read More
When you refinance your car, you get a new loan for the remaining amount that you owe. You cannot cash out unless you sell the car for more than you owe. Read More
This depends on what type of contract you are in. If you are in a auto loan contract through a bank or Federal Credit Union, I suggest you talk to your bank about it. Some banks have offers where you can refinance the car at a lower rate or extend the loan period at a lower rate. Be warned if you attempt to change your auto contract, expect to pay a lot more then what… Read More
Can you get a home equity loan if you have a 1st and 2nd on your property and your escrow states that you can not refinance for 3 years?
A Home Equity loan is an additional loan from your first and second mortgage. It does not require a refinance process. However, consider if you want to saddle your home with any more debt, given that you may not have much equity. If you are paying PMI, it may also change that position. Read More
Jumbo loans are historically riskier (i.e. more likely for default) than regular loans and are therefore harder to obtain or refinance. Critical elements would be the credit worthiness of the person(s) applying, the amount of the new loan, and the price and status of the property. Read More
One can obtain a credit equity home loan refinance by going to their local bank and finding out more information first. If one is not happy with their own bank's interest rates, then checking around would be a good option. Read More
No, you can't borrow any more $$$$ while you are in bankruptcy. Even on an existing loan. It is against the law. Read More
Several companies offer a stated income loan, such as Los Angeles Refinance & San Diego. To get more information on this type of loan, one should speak to the bank or financial adviser. Read More
Yes - you can refinance them with a private lender. You lose some of the federal government programs like IBR (income-based repayment) but can benefit from different repayment terms and a lower interest rate. Learn more at commonbond.co/refinance-parent-plus-loans Read More
A business auto loan in the US can be obtained from a bank, credit union or from the automobile dealership from which the car is located. The larger and more successful the business, the more likelihood of the business obtaining the auto loan from a bank or a credit union using the business as an entity instead of the individual requesting the auto loan. Simply select the bank that has more desirable interest rates and… Read More
If one should choose to embark on refinancing their loans, they should speak to a representative of their bank. They can help you choose how the refinance will take place, what materials will be used to fund your loan, and much more. Read More
If you refinance. Your best bet is to leave it alone & pay more if/when you can that way you are not obligated for the extra if things change. Read More
If vehicle was purchased months before a persons death and that persons name is on the loan how does the surviving spouse get rid of vehicle and debt do you take back to deal?
Get fast approval for auto finance loan and Auto Loan Financing including bad credit auto financing. Instant auto financing loan provides financing for a new auto loan and used auto loan even if you have bad credit, poor credit, slow credit or after bankruptcy. Our bad credit auto financing programs is available in all 50 US stats. Get more details at http://www.autofinance-ez.com/ Read More
If you refinance and you don't have enough equity in your home, then you are paying refinance fees and adding to your debt, plus your house isn't worth what you are paying so there is more liability to the bank. Banks don't like to take risks on the owner defaulting since they rarely get what the house is worth if they have to foreclose. Read More
Auto loan rates show the person receiving the loan the amount of interest a receiver will pay for the loan. A high rate will mean that it will take longer to pay off due to more money needing to be paid for the interest. Read More
To refinance a loan mortgage rate in the United States, one can visit a bank branch or loan offer. Different parties will offer different terms, but typically you are offered a longer term on your mortgage in exchange for lower payments. This often results in more interest paid at the end of the term, but re-mortgaging can be beneficial to homeowners on a fixed income. Read More
You can usually obtain an auto loan from the dealership you are purchasing from. If the establishment or private seller does not offer financing you can go to your personal bank to get an auto loan. Sometimes local credit unions will allow you to open an account with them, they usually have slightly more aggressive rates on auto loans but may require you to carry a balance with them. Read More
Creditworthy just means that someone has paid back a loan in the past and the bank is willing to loan them more money because they did. The banks considered Henry creditworthy, so he can refinance his home. Read More
Most banks will have a website which will give out information about loans or refinancing a mortgage however you can also go into the bank and speak with a loan officer personally for more information. Read More
One could get loan refinancing information in Virginia from the VA Gov website. One can also find information on Wikipedia and sites like Mortgage Calculator and Home Loan Learning Center. Read More
If you deferred 4 car payments over the past 5 years of your loan and now that your loan is done they want you to refinance for the last 4 payments why are they including several thousand dollars more?
Seems like they are adding accrued interested from not paying the loan off in time for the loan. Read More
How do I refinance out of an adjustable rate mortgage with high interest rates when my propety value is less than the mortgage owed?
You cant. You cannot refinance a property for more than it is worth. Read More
Yes a GMAC auto financing loan enables customers to buy their car in a more flexible and user friendly way than a regular car bank loan. Interest rates are lower so it should be more affordable. Read More
If you have a car loan and the engine dies and will cost more to replace then the car is worth is there anyway out of the loan?
Nope. Read More
How long should you wait to refinance an auto loan to lower the interest rate and are there better lenders to help with this?
Timing required to refinance doesn't usually matter. Used car loans are a little higher generally. Check with savings and loans, credit unions, banks and others to see if you can get an improved rate. They will look at your credit rating, so make sure that you are paid up on time and that you do not owe more than your income can justify. Read More
A repoed auto is usually sold far below its retail value. If you have a chance to sell it yourself and pay off the loan before it is repoed you will be dollars ahead, even if you lose money on the deal. Read More
Not necessarily. That must be in the arrangements made when you apply for the loan. Some people refinance to pay off the first mortgage. Some people take out second or third mortgages to get more money for personal use or home improvements. Not necessarily. That must be in the arrangements made when you apply for the loan. Some people refinance to pay off the first mortgage. Some people take out second or third mortgages to… Read More
Yes, an auto loan is no different than any other loan.The more you are willing to pay, the less time it will take to paid it off.The shorter the loan time, the less of a risk you are in defaulting on the loan.Less risk is compensated by lower rates in general. Read More
One of the increasingly popular methods of finding auto loans is through the Online Auto Financing, due to many companies now moving into the industry. With many young people looking for car loans the market is huge and now many companies are starting to offer loans for people with good or bad credit. If you want to start looking for a loan online then you'll need to make sure you do the research. It will… Read More
Check here for more details: A lot of homeowners are not aware of the substantial advantages of refinancing their FHA mortgage with the new FHA Streamline Loan. It's a cost-effective way to obtain a FHA Refinance along with lower interest rates and payments. The basic FHA Streamline Loan has been set up to refinance an existing FHA mortgage. This loan does not require an appraisal, and fees are generally minimal, but the new loan cannot… Read More
There are many lenders that give instant automobile loans. These include CB online, TXT Loan, Cars Direct, Road Loans, Fast Auto Loans and many more lenders. Read More
own more of car than you owe Read More
The lender will have specific appraisers that they approve and usually the appraisal must be done within 30 days of the loan. That keeps the appraisal current and also avoids conflict of interest between the real estate company (larger loan equals larger commission) and the lender (they don't want to lend more than the home is worth). Read More
It depends on how much debt you have, what interest rates this debt carries, what rate your 1st mortgage is at, if you are disciplined enough NOT to incure any more debt once a refinance has occurred. If you have a good interest rate on your home loan I would leave that where it is and consider a closed end home equity loan (typically, these loans would be at a rate a bit higher that… Read More
Probably, but you are unlikely to be granted a large enough loan to refinance your consolidated loans. Yearly loan amounts are usually capped to your need for the current loan period (a year, usually) and you might not be able to borrow more than your current yearly educational outlay. But that depends on how large your conslidated loan is. Read More
Several websites offer good calculations of two or more loan rates in a graph format. "Combined Mortgage", "Payday Payday", and "Refinemortgage" are great user recommended comparisons utilities for public use. Read More
In order to qualify to refinance a home loan, the homeowner must not be in default. The homeowner must make a certain amount of income in a year and their monthly expenses cannot be more than 31 percent of their income. Read More
Someone with poor credit can start shopping for an auto loan at a local credit union or bank. However, you may have more luck at a company that specializes in loans for people with poor credit, such as Nationwide Auto Lending or Car Loans for Everybody. Read More
Generally, no new lender will allow a refinance in that situation. You should speak with your lender. Generally, no new lender will allow a refinance in that situation. You should speak with your lender. Generally, no new lender will allow a refinance in that situation. You should speak with your lender. Generally, no new lender will allow a refinance in that situation. You should speak with your lender. Read More
One can visit Bank Rate for information on how to refinance a mortgage loan in Florida. Refinancing might prove more beneficial in terms of tax, the refinancing can also fluctuate between different time periods. Read More
Auto Credit Express is a financial institution is a company that provides loans to people so that they can purchase a car or truck. One takes out a loan from this company and pays back the loan with a little more than they received. That is how Auto Credit Express makes money. Read More