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Repossession
Mortgages
Home Equity and Refinancing

What paperwork should you ask the lender for if you are paying off a 4000 repossession deficiency with an offer of 3000?


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Wiki User
2004-10-29 22:16:50
2004-10-29 22:16:50

You make the offer, IF they accept it, they will give you the title, ect. Fairly simple business deal.

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Yes a lender can garnish your wages after a repossession. If the resell value of the item does not cover the cost needed to repay the lender, you are still responsible for paying the balance.

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The first step is to contact your lender. They will have those answers. It usually involves making up past payments, and paying the repossession fee, and perhaps storage.

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Because the lender repossessed the car from where ever it was after being totaled.IF you had gotten the car back after it was totaled, it couldn't have been a repossession.

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You would still be responsible for paying off the mortgage. It is likely that you will have breached your mortgage agreement. The lender may be able to demand immediate payment in full. If you fail to pay, the lender can take possession of the property by foreclosure. The lender could sue you for any deficiency that exists after the property is sold.You would still be responsible for paying off the mortgage. It is likely that you will have breached your mortgage agreement. The lender may be able to demand immediate payment in full. If you fail to pay, the lender can take possession of the property by foreclosure. The lender could sue you for any deficiency that exists after the property is sold.You would still be responsible for paying off the mortgage. It is likely that you will have breached your mortgage agreement. The lender may be able to demand immediate payment in full. If you fail to pay, the lender can take possession of the property by foreclosure. The lender could sue you for any deficiency that exists after the property is sold.You would still be responsible for paying off the mortgage. It is likely that you will have breached your mortgage agreement. The lender may be able to demand immediate payment in full. If you fail to pay, the lender can take possession of the property by foreclosure. The lender could sue you for any deficiency that exists after the property is sold.

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The lender will take possession of your property by foreclosure. It will then sell the property and will pursue you in court for any deficiency and legal costs.The lender will take possession of your property by foreclosure. It will then sell the property and will pursue you in court for any deficiency and legal costs.The lender will take possession of your property by foreclosure. It will then sell the property and will pursue you in court for any deficiency and legal costs.The lender will take possession of your property by foreclosure. It will then sell the property and will pursue you in court for any deficiency and legal costs.


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