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Is it a violation of the Truth and Lending Act if I asked my auto finance company why they applied payments 2 different ways and where the terms were located on my contract and they refused to answer?
Wiki User
∙ 15y ago
he intsantly get the deth penalty
Wiki User
∙ 15y ago
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Can your car be repoed if you're 90 days behind on car payments but are sending them 50 to 100 each month and have notified them in writing that the payments will be caught up completely in July?
Any action which is in violation of the original contract can result in reposession. If you don't pay insurance, late on payments and even if the vehicle is taken out of state or country if the contract specifically that you couldn't. Once the lending institution can demonstrate that you have violated one or more of the terms of the original contract, the court can (and usually will) grant the motion of the lending institution and the car (or other property) becomes theirs whether you're still paying or not. The lending institution MAY decide to work with you, but there is certainly no obligation.
Is the cosigner the only one responsible on the loan?
The primary borrower is responsible for making the payments and adhering to the terms of the lending contract. The cosigner is legally obligated only if the primary borrower defaults on the lending agreement or files bankruptcy (chapter 7).
How does a personal mortgage differ from a land contract?
A mortgage is a loan from a lending company or a bank, and usual the loan was the total cost. The loan customer then has to make payments to the bank . When a loan is obtained, a customer's credit score is taken into consideration and will determine the amount of interest the customer will have to pay on the loan. A land contract avoids the use of credits scores, and payments are made directly to the property owner until the contract has been satisfied.
Need letter for lending institution explaining why I am moving into parents house with intent to purchase as permanent address?
A letter to a lending institution should not require why your move is taking place. The letter should only state the change in information regarding the loan (or mortgage), including your contact information and statements regarding the completion of payments on the loan (mortgage). An agreement between you and your parents regarding the purchase of their home is a contract between you and your parents. If changes are to be made with the lending institution, that is a contract between your parents and the lending institution and must be amended by them. In most cases, a meeting in person with you, your parents, and the lending institution should take place to amend an existing contract. Your letter should request such a meeting if changes need to be made.
What are the lending policy?
It all depends on who's lending you the money. business have different %
Can you calculate your mortgage payment myself or should you rely on your lending institution?
Althought it is possible for you to calculate your own mortgage payments i would recommend that you rely on your lending institution to do this for you as it can be quite stressfull to do.
Is money lending a valid contract?
It depends on the contract If you are borrowing from a bank or other valid institution I will guaranty the contract will be valid and enforceable. If you are borrowing from your local loan shark, the "contract" may not be valid, but do you want to take the chance?
Been in jail 9 months car in collection want to start making payments?
Contact the lending company.
Is a domestic partner liable for the other's debt?
Only if he or she is a named joint debtor on the contract or lending agreement.
How far in dafault must a person be before vehicle repossesion?
It depends on the contract and how severe the lending institution wants to be.
What questions should you ask about unsecured loans?
Review the Truth in Lending statement so that you understand the rate of interest and what it means in the overall repayment of the loan. Find out if there are penalties for early repayment and/or if the rate can be lowered after a certain number of on-time payments. Read the contract and make sure you understand the terms completely.
Has the credit crisis affected the mortgage lending rates?
"The credit crisis has affected the mortgage lending rates drastically. Many lenders are not giving out loans and mortgages at all without either high down payments, or pristine credit."
