After the lender gets a JUDGEMENT for xxx number of dollars, they can attach other property you own, Depending on your state laws.
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Related Questions
Can the lender collect the rest of the money you owe on a car that they repossessed?
In most cases, YES
How much money does the US government collect in income tax?
2.16 trillion
Does a hard money lender require a credit check or income verification?
johni:No.the loan is based on the lendees assets.
What is your business?
When a customer's loan or bill goes into default the company that lent the debtor the money will try to collect the debt. Most debt collectors are from the actual lender or are contractors that have purchased the debt and will try to collect the money from the debtor with interest.
Is money that you loan to someone taxable?
Loans are not usually considered income for tax purposes. Added: UNLESS you, the lender, are earning interest on the loan. Then - the interest income is taxable.
Can a bank account be levied?
If you owe the money, and the lender goes thru all the channels to collect, then yes a bank account can be levied.
How does a lender get a judgment against you for a loan when they repossess a car?
You owed more money than the car was worth and they wish to collect the balance.
How an where can you find an international money lender?
how can i find a money lender for my project
Can rent a home i own and still collect ssi?
You can rent a home and still collect social security money. Social security money is meant to be a subsidy and not your only source of income.
Local government collect most money by taxing what?
Local government collect most money by taxing products and services. The individual income is also taxed as a way of collecting revenue.
Does Texas collect an income tax?
yes how will they get money for air in the police depatment...there not going to pay it
What is the farmer and the money-lender were alike?
what is the farmer and money-lender were alike
When you owe money to another lender you are a .?
When you owe money to another lender, you are a _____.
1099-c from a short sale on a home?
Represents the cancellation of debt, which is income you received. The same as if the lender gave you money.
Is it possible to get a new mortgage on a mortgage free home without income verification?
That is not likely. The main factor in being approved for a loan is not whether there is debt on the property but whether youcan repay the loan. The lender will verify your income to make certain you have the ability to repay the money they loan to you.That is not likely. The main factor in being approved for a loan is not whether there is debt on the property but whether youcan repay the loan. The lender will verify your income to make certain you have the ability to repay the money they loan to you.That is not likely. The main factor in being approved for a loan is not whether there is debt on the property but whether youcan repay the loan. The lender will verify your income to make certain you have the ability to repay the money they loan to you.That is not likely. The main factor in being approved for a loan is not whether there is debt on the property but whether youcan repay the loan. The lender will verify your income to make certain you have the ability to repay the money they loan to you.
If you are the co-signer and the primary defaults what happens if you do not pay the loan back either?
The lender will get a judgment against both of you and collect from whomever has the money.
If a second mortgage is forgiven by the private lender are there tax or income implications?
Yes. And it does not matter that the lender is a private lender. If a debt is forgiven the borrower has in effect received money or something of value without having to pay the money back. Proceeds of a loan are not consider income unless the loan is not paid back. It is like the lender paid you an income or gave you a gift. A loan from a private lender that was secured by a second mortgage and later forgiven can be a sign of mortgage fraud. The 'technique' is sometimes used to obtain a loan from a conventional lender (the 1st mortgage loan) where the 1st loan could not be obtained if the lender's underwriter was told the 2nd was going to be forgiven. Documentation in the public record of a possible fraud. Maybe not that likely to be noticed but no less illegal.
What reason does Shylock give out loud for his hatred of Antonio?
Antonio was Christian and helped people with money without charging interest and deprived Shylock of his income as Shylock was shrew money lender.
What is Scrooge's occupation in A Christmas Carol?
A Corn trader and money lender
Can you receive ssi and live in Mexico?
Yes. However, you need to have a mail box in the US to collect your check; many retired ex-pats do this by living in Mexico but going once a month into the US to collect their money.
Where can I find a hard money lender in the Seattle area?
This lender will do hard money loans in Seattle: http://www.dlendinggroup.com/
A person who take the loan called as?
The lender loans money to the borrower.The borrower takes the loan out with the lender.The borrower is then in debt (owes money) to the lender and the lender is in credit with the borrower and will want the borrower to pay him/her back.
Is there anything that you can do legally in Georgia to the person you co-signed for before the lender come after you when the car is repossessed?
Nothing that I know of, maybe a civil suit. You are learning the pitfalls of co-signing the hard way. Keep the lender aware of the signors address( so the lender can pester them as well as you), any windfall money the signor may get to collect from by the lender,ect. Good Luck
Is revenue another name for government income?
No. "Revenue" is any kind of income; it means "money collected". The government uses the word "revenue" to mean "money collected by the government", because the government is mostly concerned with how much money THEY collect, as opposed to somebody elses' revenue. The specific term for "government income" is a "tax".
How does a hard money lender make his profits?
A hard money lender provides a short term loan with a high interest rate and fees. Further a hard money lender will only lend if in an equity position.
