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{| |- | If your current mortgage has a high interest rate, you're stuck in an adjustable rate mortgage, or you want cash out or to consolidate your debt, the answer to your mortgage problems is refinancing. Mortgage refinancing allows you to pay off the remainder of your existing loan by taking on a new loan with better terms. You can even opt for Debt reduction programs from Freedom debt relief to get out of debt. |}
Wiki User
∙ 15y ago
Wiki User
∙ 16y agoYou have to start the whole process over again as you did with the first one because they are two different loans
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If you can not afford your car loan can you renegotiate?
Certainly.. You can renegotiate OR modify your existing plan. I would suggest you to get an OPTION REPORT from "Autorelifgroup". With which you will come to know your options. Use this link for more information.. http://www.autoreliefgroup.com Ronny
Can you keep a car that your name is not on loan but was given to you by the deceased?
You need to have the title transferred to your own name and notify the loan company of the change in ownership. Then you will need to pay the balance of the loan or renegotiate the loan with the bank. If you don't pay the loan the car will be repossessed.
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.
Does your credit score go down if you renegotiate a mortgage loan?
Whenever you take a loan out or have someone view it, your score does go down. If you have received your new loan though, you don't care. It should go back to the norm shortly.
How would one get a mortgage loan modification?
A loan modification is necessary when someone is facing financial hardship and is having trouble keeping up with the terms of the mortgage in its present state. One would go to the bank and renegotiate and modify the terms of the loan to ease their financial obligations.
How can I change my Annual Percentage Rate?
The only way that one can change an annual percentage rate on a loan or credit card is to renegotiate the terms of the loan or credit balance with the lender. Another way would be to simply refinance the balance.
How does a loan modification impact the original loan?
The purpose of the loan modification is to renegotiate the terms of the original mortgage agreement. The objective is to ensure that your monthly payment is affordable. Consequently, your Lender may reduce some portion of your principle mortgage balance, extend the term of the loan, allow for a balloon payment at the end of the loan term, and/or lower the interest rate on your current loan going forward.
Can you renegotiate a Working Capital loan?
The lender will consider such requests of working capital loans with bad credit; however only where there is a clear business case that it makes sense for all parties.
What is a stand alone second mortgage?
A stand alone second mortgage is a second loan taken out against your home when you already have 1 loan on it. The only difference is that the second loan was closed at a later time.
What happens if a cosigner refinances a primary signers loan without notice?
If the first loan was refinanced it must have been paid off by the second loan. You are not responsible for the second loan if you didn't sign it.
Can you get a FHA loan on a second home?
Yes you can obtain a FHA Loan on a second home as long as you meet the FHA requirements.
How can one obtain a second loan mortgage in the UK?
One can obtain a second loan mortgage by proving to a bank that they are able to pay the monthly rates even if they have a second mortgage. Lloyds, Barclays and the Royal Bank of Scotland accept second loan mortgages.
