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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?

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2015-07-15 19:13:55
2015-07-15 19:13:55

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.

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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....


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