answersLogoWhite

0


Best Answer

Carly, it can affect what interest rate you pay(HIGHER THAN NORMAL), how much you have to pay down to even get a loan. It is NOT a positive thing to have on your CR.

User Avatar

Wiki User

โˆ™ 2015-07-15 19:13:55
This answer is:
User Avatar
Study guides

Loans

26 cards

What is forfeiture

Which of these is the best description of delinquency

Which term is defined as property that is pledged as security on a loan

This is Paula's monthly budget What percent of her expenses is spent on insurance

โžก๏ธ
See all cards
2.33
โ˜†โ˜…โ˜†โ˜…โ˜†โ˜…โ˜†โ˜…โ˜†โ˜…
3 Reviews

Add your answer:

Earn +20 pts
Q: If you must voluntarily have your car repossessed due to an upside down loan what effects will this have on trying to get a home loan in two years?
Write your answer...
Submit
Still have questions?
magnify glass
imp
Related questions

Does bankruptcy cover the amount you are upside down on a vehicle after it has been repossessed in Colorado?

It can.


What are effects of tsunami on different life forms?

upside down


Does sleeping upside down affect heart?

no it effects your blood because if you sleep upside down blood comes down to your brain.


What happen if you can not pay your car loan?

When you don't make regular payments, your car will repossessed. Now if you had an upside down loan, you will still owe the lender.


Can a pencil write in outerspace upside down?

Of course a pencil can write in outer space and upside down. Trying writing upside down now and see for yourself. A pen on the other hand may give you problems.


What tattoo means lost?

An albatross flying upside down means you're trying to find your way.


Can you fart upsidedown?

yes you can fart upside down because of the VERY strong force trying to push out that freakin' fart!


If your car was repossessed in 1996 can the loan company put it back on your credit report in 2003?

Call a local attorney for state/case specific advice. Contact the credit reporting agency Yes if they are trying to collect what the Upside down difference was from Repo-ing it and auction off price. It should only read that it's a Debt being collected from previous car....


What is an upside down rainbow?

It's the bottom half of a full circle --the top half is obscured by clouds or other weather effects


What does upside mean?

The upside is ;the good thing about it .


Can the earth be upside down?

The earth can not be upside down.


Do bats fly upside down?

No, they sleep upside down and have terrible eyesight but do not fly upside down.

People also asked