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What can you do if the lender repossess your car and they get half of the loan and you cant pay the balance?
Wiki User
∙ 12y ago
The lender will come after you for the remaining balance after the car is auctioned.You can either declare banckruptcy or work out a payment plan...or thelender can seek a judgment to garnish your wages.
Wiki User
∙ 12y ago
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Can a finance company repossess a car if more than half has been paid?
They can repossess with any amount owed if unpaid.
Can a spouse get a home equity loan without the other spouse's signature?
All the owners of the property must sign in order for the lender to have the authority to take the property by foreclosure in the case of a default. A prudent lender will not loan money on a half interest in real property since they could not take possession of the non-borrower's half interest if the loan wasn't paid.All the owners of the property must sign in order for the lender to have the authority to take the property by foreclosure in the case of a default. A prudent lender will not loan money on a half interest in real property since they could not take possession of the non-borrower's half interest if the loan wasn't paid.All the owners of the property must sign in order for the lender to have the authority to take the property by foreclosure in the case of a default. A prudent lender will not loan money on a half interest in real property since they could not take possession of the non-borrower's half interest if the loan wasn't paid.All the owners of the property must sign in order for the lender to have the authority to take the property by foreclosure in the case of a default. A prudent lender will not loan money on a half interest in real property since they could not take possession of the non-borrower's half interest if the loan wasn't paid.
Can a co-owner refinance a property without telling the other co-owner?
No. A prudent lender will require that all owners sign the mortgage so that it can take the property by foreclosure if the borrower defaults. If only one signed the mortgage the lender can only take possession of a half interest in the property.No. A prudent lender will require that all owners sign the mortgage so that it can take the property by foreclosure if the borrower defaults. If only one signed the mortgage the lender can only take possession of a half interest in the property.No. A prudent lender will require that all owners sign the mortgage so that it can take the property by foreclosure if the borrower defaults. If only one signed the mortgage the lender can only take possession of a half interest in the property.No. A prudent lender will require that all owners sign the mortgage so that it can take the property by foreclosure if the borrower defaults. If only one signed the mortgage the lender can only take possession of a half interest in the property.
Can your name be on the title but not on the mortgage?
No. Any professional, knowledgable lender will require that all owners sign the mortgage so that in the event of a default it can take possession of the property by foreclosure. If only one of two owners signed, the lender can only take the half interest of that person and not the other owner.No. Any professional, knowledgable lender will require that all owners sign the mortgage so that in the event of a default it can take possession of the property by foreclosure. If only one of two owners signed, the lender can only take the half interest of that person and not the other owner.No. Any professional, knowledgable lender will require that all owners sign the mortgage so that in the event of a default it can take possession of the property by foreclosure. If only one of two owners signed, the lender can only take the half interest of that person and not the other owner.No. Any professional, knowledgable lender will require that all owners sign the mortgage so that in the event of a default it can take possession of the property by foreclosure. If only one of two owners signed, the lender can only take the half interest of that person and not the other owner.
Can the bank repossess a 30K dollar car when less than half is still owed and only 128 dollars is past due?
The bank can legally repossess a car at any time you default on the loan regardless of the vehicles value or the amount past due. If your car payment is due on April 1st and you don't pay than you are legally in default on your contract. If you make a partial payment (less than the amount you agreed to pay in your contract every month) and the bank didnt agree to this arrangement then you are still in default. The best bet would be to pay the $128 before the car is repossessed or to pay the back balance owed if it has already been repossessed.
Can a finance company repossess a car if more than half has been paid?
They can repossess with any amount owed if unpaid.
If you are paying half of your car payment can they still repossess it?
My best suggestion is to contact your auto lender, and ask them the procedure for repossesions. Keep in mind that the bank can reposses your vehicle if you are 60 days late on your payments even if you attempt to only make half of your payments. Call them as soon as possible and work out a payment plan with them.
What type of balance occurs when one half of an artwork is exactly like the other half?
formal balance
Can your car still be repossessed after you've paid half of your past due balance?
Of course. The whole idea of "security" in your pledge of the car in exchange for the loan is that it is easier to repossess it than to sue you for non-payment, and that applies up until the very last payment is made.
Can a spouse get a home equity loan without the other spouse's signature?
All the owners of the property must sign in order for the lender to have the authority to take the property by foreclosure in the case of a default. A prudent lender will not loan money on a half interest in real property since they could not take possession of the non-borrower's half interest if the loan wasn't paid.All the owners of the property must sign in order for the lender to have the authority to take the property by foreclosure in the case of a default. A prudent lender will not loan money on a half interest in real property since they could not take possession of the non-borrower's half interest if the loan wasn't paid.All the owners of the property must sign in order for the lender to have the authority to take the property by foreclosure in the case of a default. A prudent lender will not loan money on a half interest in real property since they could not take possession of the non-borrower's half interest if the loan wasn't paid.All the owners of the property must sign in order for the lender to have the authority to take the property by foreclosure in the case of a default. A prudent lender will not loan money on a half interest in real property since they could not take possession of the non-borrower's half interest if the loan wasn't paid.
How do you Repossess own vehicle from a joint owner?
LEGALLY, you can't repossess anything from the owner. Once that person signed the title, its half theirs. you will have to take him/her to court with probable cause, or convince them to sign away ownership. Good luck
What is 12 and a half of 808?
YOU CANT DO 12 and a half of 808 !?!?
What happens if one tenant in common records a note or mortgage?
If the tenant in common who mortgaged her half interest defaults on the loan then the lender can only foreclose on that half interest. The lender would have to share the property with you. It could petition to partition the property, try to force a sale and share the proceeds with you. Their legal costs would come out of their half not yours. A foreclosure and partition would be very expensive for the lender. The important point here is that your half is free and clear of the mortgage unless you signed it.
Can a co-owner refinance a property without telling the other co-owner?
No. A prudent lender will require that all owners sign the mortgage so that it can take the property by foreclosure if the borrower defaults. If only one signed the mortgage the lender can only take possession of a half interest in the property.No. A prudent lender will require that all owners sign the mortgage so that it can take the property by foreclosure if the borrower defaults. If only one signed the mortgage the lender can only take possession of a half interest in the property.No. A prudent lender will require that all owners sign the mortgage so that it can take the property by foreclosure if the borrower defaults. If only one signed the mortgage the lender can only take possession of a half interest in the property.No. A prudent lender will require that all owners sign the mortgage so that it can take the property by foreclosure if the borrower defaults. If only one signed the mortgage the lender can only take possession of a half interest in the property.
need a hard money lender to fund prime real estate will share prifit half and half.?
Call your rich uncle or other family member. I don't think you'll find a private lender willing to help you. clerify your proposal. I am open minded.
What is the second half of this proverb If you cant stand the heat?
If you cant stand the heat, get out of the kitchen!
Can you borrow against joint property?
That is entirely up to the lender. Generally, a lender sets up the transaction so that it can take the property by foreclosure if the borrower fails to pay. Therefore, an experienced lender requires that all the owners sign the mortgage. If only one joint tenant signs the mortgage the lender would only acquire a half interest by foreclosure. A half interest is hard to sell.Most mortgages that are signed by only one of the owners are errors made by inexperienced lenders.
