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14y ago

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What is the process for a consumer loan payoff?

The process for a consumer loan payoff involves contacting the lender to request the remaining balance, making a final payment to clear the debt, and ensuring that the loan is marked as paid in full on your credit report.


How do you write a letter to need a bonafied certificate from college for educational loan?

As i am studding B.A English Literature second year .I was applied for an educational loan. so i kindly request you to issue Bonafide certificate to me


Can a co-signer call for payment in full if the loan is not being paid?

The co-signer has no inherent authority to "call for" the payment in full of the loan. If the primary borrower is missing payments it is likely they cannot afford to repay the loan. In fact, if payments are being missed by the primary borrower the co-signer's responsibility will kick in and the lender will go after the co-signer for full payment of the loan.The co-signer has no inherent authority to "call for" the payment in full of the loan. If the primary borrower is missing payments it is likely they cannot afford to repay the loan. In fact, if payments are being missed by the primary borrower the co-signer's responsibility will kick in and the lender will go after the co-signer for full payment of the loan.The co-signer has no inherent authority to "call for" the payment in full of the loan. If the primary borrower is missing payments it is likely they cannot afford to repay the loan. In fact, if payments are being missed by the primary borrower the co-signer's responsibility will kick in and the lender will go after the co-signer for full payment of the loan.The co-signer has no inherent authority to "call for" the payment in full of the loan. If the primary borrower is missing payments it is likely they cannot afford to repay the loan. In fact, if payments are being missed by the primary borrower the co-signer's responsibility will kick in and the lender will go after the co-signer for full payment of the loan.


How can you find the amortization of your loan?

when you request a loan, the institution will give you a contract or paperwork of the loan. In the contract of payment, you will find any details regarding the loan: interest, amount, amortization and other the terms.


Why would one need loan payment insurance?

Loan payment insurance may cover one for a variety of unplanned events. These may include loss of job, ill health, death or changes to financial situations. Loan payment insurance may cover either the interest on a loan, for a set period, or the loan payment in full.


How do you defer a payment?

Call your student loan servicing company and request a Deferment. If you are not eligible, then ask for a Forbearance.


Where can I find a sample letter to request skip car loan payment?

You do not need a letter, you need to call or visit the loan company and talk to them about this personally. Skipping a payment can result in the loan company starting repossession proceedings on your vehicle. This is something you do not want to happen so contact the loan company immediately if you are unable to make your payment on time.


How can I return unused student loan money?

To return unused student loan money, contact your loan servicer and request to make a payment for the amount you want to return. They will provide you with instructions on how to do so.


How can I request the removal of private mortgage insurance (PMI) from my Fannie Mae loan?

To request the removal of private mortgage insurance (PMI) from your Fannie Mae loan, you typically need to have a good payment history, reach a certain amount of equity in your home, and submit a formal request to your loan servicer. This request may require an appraisal to confirm the value of your home.


Can a finance company refuse a payment?

no , if they do get it in writing , they would be idiots to do so unless the loan is paid for in full, in that case demand a letter of satisfaction ( shows you paid the loan in full )


What is a single payment loan?

A single payment loan is just what it implies. The loan is due and payable in one lump sum, principal and interest, at the end of the period of time of the loan. Most loans are multiple payment or installment payment loans, like car loans, credit cards or mortgages where payments are made on a regular (usually monthly) basis over the term of the loan. This reduces the amount due on the loan gradually. In a single payment loan, nothing is paid during the term of the loan until the due date. On that date everything must be paid in full.


Can a default payment amount stop repossession?

No, once the loan is in default, the only way to assure that you keep your stuff is to pay off the loan in full.