Repossession
Credit and Debit Cards
Credit

If you are current on your house and car payments can the credit card people take that away from you?

192021

Top Answer
User Avatar
Wiki User
2005-09-13 23:36:10
2005-09-13 23:36:10

no they just tell u that so u pay but just in case get a homestead on ur house that way no one can put a lien on it

1
๐Ÿ™
0
๐Ÿคจ
0
๐Ÿ˜ฎ
0
๐Ÿ˜‚
0

Related Questions

User Avatar

There will be no affect to the house with the current payments. Even if they are with the same lender. But it will hurt your credit badly...at least for 4 years.

User Avatar

To get credit to build a credit score, you must take a loan out on something such as a car or a house and then make payments. The more you are on time, the better your score will be.

User Avatar

The lender is likely to report this to the credit reference agencies within a week of the default

User Avatar

All purchases made with credit cards become credit obligations, in the sense that you are legally obligated to pay for the items you buy on credit. Most home buyers also require a loan to buy a house, and they are obligated to make payments on that loan. Student loans are also very common. People finance their higher education on credit, and they are obligated to make payments on those loans.

User Avatar

As long as you were given a mortgage and are keeping up the payments, you are not likely to lose it. However, if you fail to make payments on time, bad credit is likely to increase the chances of foreclosure.

User Avatar

The best way to buy a house with bad credit is to pay off any collections listed on your credit. Make sure you make all payments regularly for an extended period of time. Try to get prequalified before looking.

User Avatar

People who pay for everything in cash have no credit.

User Avatar

house rent mortgage utilities car payments credit card

User Avatar

If your credit score above 500 , and have been employed for at least 1 to 2 years, you might be able to get a loan through your bank or credit union to buy out the mortgage from the current lender. If you have not ask the current lender how you can assume the loan, try asking them and explained them about your situation and see what you can do.

User Avatar

Your credit report is one of the most important numbers you will have in your life. You can call one of the credit reporting agencies to have them send you your credit score. When you buy a car or a home your credit score will be used to determine the down payment and the monthly payments. It can also determine if you even get the house or car you wish to purchase. You can improve your credit score by making payments on time.

User Avatar

is there any help out there to help make house payments

User Avatar

As long as you make all of your payments as agreed and are never late financing a home is one of the best things people can do for their credit. Your score goes up after 6-months and continues to go up the longer you make your payments. It shows stability and responsibility. Only if you do not make your loan payments fully and on time will the score not improve. If you make the loan payments and avoid taking out any other loans or new lines of credit for a while, it could actually significantly improve your credit score. It will take several months to a year to do so, but the longer you handle a sizable loan like that responsibly, the more good it will do your credit score.

User Avatar

It will depend on how good your credit is and what you want your payments to be. If the price of a house is $100,000 and your credit is good and your fico score(this is your credit score) is 660 or higher You will need to put down 5%-10 % or $5,000 - $10,000 plus closeings cost of another 4% or $4,000.00 so if your credit is good you will need to save 9% -15% of the cost of the house you want to buy. Now if you have bad credit, you should clean up your credit before you buy. With bad credit your intrest rate will be high and your house payment will be high.

User Avatar

If you don't pay your car payments, people go to your house and take it away.

User Avatar

Your husband's name is not on the deed, but is he on the loan? If yes, then it cannot be foreclosed and repossessed if the property is listed on his bankruptcy filing, and, as long as his bankruptcy payments are current. If he defaults on bankruptcy payments, then you can lose the property. If he is not on the loan, then your house can be foreclosed and repossessed.

User Avatar

At the discretion of the lender, a house can be foreclosed after a period of missing payments.

User Avatar

Payments in the last 12 months are reported on your credit report. The BK 7 and the previously late payments will continue to show on your credit report, but eventually your ontime payments will be the ones showing. You may be able to get a statement that the house was redeemed in the bankrupcy, but all late notices for the past 12 months and/or a notice of foreclosure will remain.

User Avatar

If the house is headed for foreclosure, anyone on the title and the mortgage is facing foreclosure, not just one of the owners. If the daughter was responsible for the mortgage payments by agreement with her grandmother, and got behind in payments, she may be able to pull the mortgage out of foreclosure by a Chapter 13, if she can afford the plan payments and the current mortgage payments. If the Chapter 13 cannot succeed without financial input from the grandmother, it will be up to her to let it go forward and lose the house. Either way, the fact that the house is in foreclosure will affect her credit score.

User Avatar

Generally no, but some lenders will allow a judgment to stay open on your credit report if you provide a repayment agreement and proof that payments have been made on time for 6-12 months.

User Avatar

I would say it should hurt her credit only. But i guess that would depend on if the house is in your name as well. Hopefully its in here name only and it should only affect her.

User Avatar

Medical payments on your car generally covers expense to yourself and / or passengers in the event of an accident where you're at fault. Medical payments on a home policy will pay for people who are injured in your house - but it won't cover the homeowner or other residents of the house. http://www.coloradosbestinsurance.com

User Avatar

No, do not make any payments until told to to so. Then it will only be the secured debts ( house-car ) that you will be keeping.


Copyright ยฉ 2020 Multiply Media, LLC. All Rights Reserved. The material on this site can not be reproduced, distributed, transmitted, cached or otherwise used, except with prior written permission of Multiply.