You know how far behind you are, sooo, you should have that amount READY to send/give the lender to have any hope of continuing the loan relationship. In any case, you will have to contact the lender to resolve the issue, if only to tell them where to p/u the car. It will take much convincing to get the lender to OK your plan. If you need more info, email me.
Yes, Mortgage Insurance Premiums Payments do have to be es-crowed by the lender.
In most cases a lender will file a notace of default after 3 missed payments.
You and the person wanting to take over the payments, go in a sit down with the lender who holds the note, and talk about it. The lender must agree to this for it to happen.
The lender has the right to receive all the payments. A co-buyer has no rights TO the payments.The co-buyer is equally responsible for making the payments.The lender has the right to receive all the payments. A co-buyer has no rights TO the payments.The co-buyer is equally responsible for making the payments.The lender has the right to receive all the payments. A co-buyer has no rights TO the payments.The co-buyer is equally responsible for making the payments.The lender has the right to receive all the payments. A co-buyer has no rights TO the payments.The co-buyer is equally responsible for making the payments.
At the discretion of the lender, a house can be foreclosed after a period of missing payments.
As long as you make your payments the answer is no.
"""the co-signer do if the lender can't"""????????? New one on me... IF the debtor/signor cant/wont make the payments, the co-signor is obligated to make the payments to the lender. The co-signor can demand/beg/plead/con/coerce the signor to let co-signor have possession of the collateral just like the lender will if the payments dont get made. Does that help?
Your lender, or the lender you are considering. The amortization is going to break down payments further, so you have to consider what you still owe to the lender.
When you bought the car, the lender paid the dealer for the car, and you are making payments to the lender, plus interest. The lender will not help you avoid paying him.
You must talk to the lender who has a lien on the vehicle. It is up to them if you will be allowed to take over the payments.
Talk to the lender, or you can file Chapter 13 Bankruptcy to lower the payments where you can afford them.
NOT unless the LENDER agrees before you do IN WRITING.