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Is it true that you can now get a car loan modification?
HookemHornMan
Are you late on your monthly car loan or lease payment? Are you facing financial hardship or struggling to make your monthly payments? Are you upside down or feel you may have been taken advantage of by the dealer who sold you your vehicle?
If so, we are the Nations Leader on Car Loan and Lease Modifications. We have a program for consumers who may be experiencing hardship and/or having difficulty making their monthly car payment.
Please visit www.VehicleLoanModification.com for more details.
We also have an affiliate program for firms that want to offer assistance to their existing clientele.
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∙ 14y ago
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Where do you get training to be a loan modification consultant?
First, it is important to check with your state and determine if there are licensing requirements. Most states now regulate who can do loan modifications for compensation. This is due to the recent rise in loan modification scams.
If after your bankruptcy you sign a loan modification on your home are you now responable for this loan if you still want to walk away if the loan was not reafirmed?
This question should be handled by an attorney,Any loan modification paper work signed after bankruptcy proceeding are a new contract which yes make you liable for that debt.
What is the difference between refinancing and loan modification?
Refinancing is the process of taking out a new loan in order to pay off one or several existing loans and debts. Loan modification is a change to a single loan, often to make repayments more affordable. Depending on the details of a loan modification it may be treated as a continuation of the original loan or as a new loan. If it is treated as a new loan, it is a refinance as well as a loan modification. However, most refinances are done for other reasons. One important one is debt consolidation, where several loans or outstanding debts (credit cards etc) are consolidated into a single loan. Another is to secure a better interest rate - for instance, if the original loan was a low-doc or no-doc loan and the borrower now qualifies for a full-doc loan with a lower interest rate; or if a fixed-rate loan is about to reach the end of the fixed-rate period and convert to the standard variable rate, refinancing to a basic variable loan may be useful.
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.
What is a modification loan?
A loan modification isn't a loan. It's not termed a "loan modification loan" -- it's just called a "loan modification."It works by allowing homeowners and their lenders to negotiate to change the terms of a mortgage, usually to make the payments lower and more affordable to help the borrowers avoid losing the house to foreclosure.There are a number of ways that borrowers and banks can negotiate for different terms. This list is not exhaustive:Lower the interest rate.Change an adjustable rate mortgage that may increase in a number of months to a fixed rate mortgage with more stable payments.Decrease the amount owed on the principal balance of the loan.Take any missed payments and, instead of requiring they be paid now, add them to the back end of the loan.Extend the term of a loan from 15 years to 30 years, or from 30 years to 40 years in order to lower the monthly payment.The original mortgage is not replaced with a new one as in a refinance, but changes are made to the functioning of the current loan.In some cases the loan modification can provide for an increase in the amount of money borrowed.
Where do you get training to be a loan modification consultant?
First, it is important to check with your state and determine if there are licensing requirements. Most states now regulate who can do loan modifications for compensation. This is due to the recent rise in loan modification scams.
If after your bankruptcy you sign a loan modification on your home are you now responable for this loan if you still want to walk away if the loan was not reafirmed?
This question should be handled by an attorney,Any loan modification paper work signed after bankruptcy proceeding are a new contract which yes make you liable for that debt.
If bought a new car a few days ago with a car loan and now you have to leave the country what can you do to get out of the loan?
CALL the lender. they are the ones who can let you "come out" of the loan.
What is the difference between refinancing and loan modification?
Refinancing is the process of taking out a new loan in order to pay off one or several existing loans and debts. Loan modification is a change to a single loan, often to make repayments more affordable. Depending on the details of a loan modification it may be treated as a continuation of the original loan or as a new loan. If it is treated as a new loan, it is a refinance as well as a loan modification. However, most refinances are done for other reasons. One important one is debt consolidation, where several loans or outstanding debts (credit cards etc) are consolidated into a single loan. Another is to secure a better interest rate - for instance, if the original loan was a low-doc or no-doc loan and the borrower now qualifies for a full-doc loan with a lower interest rate; or if a fixed-rate loan is about to reach the end of the fixed-rate period and convert to the standard variable rate, refinancing to a basic variable loan may be useful.
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.
What is a modification loan?
A loan modification isn't a loan. It's not termed a "loan modification loan" -- it's just called a "loan modification."It works by allowing homeowners and their lenders to negotiate to change the terms of a mortgage, usually to make the payments lower and more affordable to help the borrowers avoid losing the house to foreclosure.There are a number of ways that borrowers and banks can negotiate for different terms. This list is not exhaustive:Lower the interest rate.Change an adjustable rate mortgage that may increase in a number of months to a fixed rate mortgage with more stable payments.Decrease the amount owed on the principal balance of the loan.Take any missed payments and, instead of requiring they be paid now, add them to the back end of the loan.Extend the term of a loan from 15 years to 30 years, or from 30 years to 40 years in order to lower the monthly payment.The original mortgage is not replaced with a new one as in a refinance, but changes are made to the functioning of the current loan.In some cases the loan modification can provide for an increase in the amount of money borrowed.
Who can garnish ssd checks?
i cosign for a car am on ssd the car was rep ode now there after me to pay the loan
Bought a car now told its on finance Am i the legal owner?
you took a loan to finace the car from the dealer- the bank holds the title to your car- you are the owner and respondsilbe to pay the loan or the bank or fiance companmy can reposses your car
I had a car that got repossessed and I was left owing a lot on the loan and then I got married. Is my husband now responsible for my past due loan?
No. Because the car was purchased prior to the marriage.
Wife and you on car loan now divoced can you get off loan?
I am dealing with my own drama in a cosign arrangement. I have found that the only way to get your name off of the loan is to have her get a new loan through refinance.
What can you do if your car is stolen and you still have a loan on the car but your insurance does not cover theft and they recover your car totaled?
YOU pay off the loan like you agreed to in the contract. You likely agreed to have ins. that covered theft also. You should have had full coverage on a car with a loan on it. Sorry, you have to pay the loan off and now you own a totaled car! Comprehensive coverage isn't that expensive and would have covered theft.
What happens to a car loan when the borrower dies and has no will or power of attorney and her kids are left without any documents stating they can now have the car?
The car is still subject to the loan, so the bank has control. Typically the bank will sell the car and pay off the loan, anything remaining would go to her estate.
