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NO, they can attach a lien to be paid FIRST if/when the home is sold.

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โˆ™ 2011-09-12 21:58:44
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Q: If you have a voluntary repossession can they take your home?
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How will a voluntary repossession affect your purchasing a car within a year from the voluntary repossession?

A repossession is a repossession, no matter if it is voluntary or not. Your credit will be ruined for 7 years.


Can you be arrested for a voluntary repossession?

NO


In Georgia should you do a voluntary repossession or just repossession?

The second to last sentence should read - Never will a voluntary repossession cost you MORE than a forced repossession. A repo is a repo. Voluntary Repos will, in most cases, save you money due to the cut in fees associated with the repossession. In some cases these fees will not be any less and the cost of a voluntary repo and the cost of a forced repo are the same. Never will a voluntary repossession cost you less than a forced repossession. Either way, voluntary repossession is the decision I would make, due to the possibility of a lesser cost.


If you do a voluntary repossession on your auto can your house be taken by the bank if you have no equity in it?

NO. They can't take what you don't have.


Do you call the finance company or just take the car to the dealer if you want to do a voluntary repossession and do you need to inform the finance company you're taking it back or will the dealer?

call the finance company and tell them that you want to do a voluntary repossession and they will take it from there.


Does a voluntary repossession affect credit the same way as a reposession?

Yes, there is no difference. A repossession is a repossession.


Sample copy of a voluntary mobile home repossession letter?

A sample copy of a voluntary mobile home repossession letter will have a number of tips which can be used for drafting your own. This will include details of the property in question, ownership details, location and so much more.


How long does a voluntary repossession stay on your credit report?

For Experian, a voluntary repossession will remain on your credit report for seven years from the original delinquency date of the debt.


Is a voluntary repossession better than a repossession?

neither looks good on your credit.


Will a voluntary repossession from your spouse affect your credit?

Yes, but perhaps not as adversely as an involuntary repossession.


What is an involuntary repossession?

Voluntary repo is you call the loan holder and tell them to come get it or you take it to them. Involuntary they have to come & get it.


If I voluntary give back a Motocycle for repossession will you have to pay the total owed on the loan to take back the motorcycle?

Probably.

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