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Can you still qualify for an FHA loan if you have had a car repossession in the past?
Yes, you can still qualify for an FHA loan even if you have had a car repossession in the past. However, the repossession may impact your overall credit history and could affect your ability to get approved for the loan. It's important to work on improving your credit score and demonstrating responsible financial behavior to increase your chances of approval.
What else can I help you with?
If you make one payment when payments are behind can this stop the repossession?
Check your loan contract, but in most cases (99.99%) if the payment does not represent the total past due amount, or if you do not have arrangements with the lender setting asside repossession actions in lieu of payment arrangements, no; one payment toward a past due balance will not stop or delay repossession of the vehicle.
Can you be past due and still get a car loan?
Depends on your definition of past due. If you mean past due "by a few days late all the time", then yes you can still get a loan. If you mean past due "30 days or more past due here and there or infrequently then it may be more difficult but yes you can still get a loan. It will refect in the rate and terms offered-the more past due, the higher the rate. If you are "constantly late, then probably not! Your credit reports will refect payments that are 30 days or more past due (ex: due on the 1st and pd after the 1st of the following month), they will not refect payments that are 10 or 15 days past due.
What is the past tense of loan?
The past tense is loaned.
Can you get a repossession off your credit if you pay the past due amount immediatley?
Actually, it doesn't just come off your record. It will show as a repossession, but it will show as no balance due.
What type of mortgage rate would you get currently with a credit score of 600 and what is an average amount for closing costs for someone with a credit score of 600?
Depending on the eguity in your home and your past more mortgage payment history you could qualify for an FHA mortgage with a small downpayment. You will qualify if you have documentation to support your income and assets. Closing costs should be around $8,000. Don't let anyone tell you you have to pay more for this loan. Fair pricing should not have more then 1 point and could be 0 points and still have a great rate. If you find a good lender you will get the loan at the right price. Mortgageguy101@aol.com
How do you stop a repossession in process?
Pay the past due amount on the loan or pay the loan in full. In the event you are able to do this, it is a good idea to have the lender contact the repossession agency to cancel the repossession while you remain on hold. If you fail to do this, it could take several hours for them to notify the repossession agency, and your vehicle could still be taken.
I have a good okay credit score recieve monthly anuities as an monthly income and just purchased a new vehicle. can i still qualify for a fha loan?
As long as you have a good paying job and don't have anything bad like bankruptcies in the past, you should still qualify for the loan.
Does a loan company advise of past due before repossession?
Yes, generally. You should certainly know if you are behind on your loans.
If you make one payment when payments are behind can this stop the repossession?
Check your loan contract, but in most cases (99.99%) if the payment does not represent the total past due amount, or if you do not have arrangements with the lender setting asside repossession actions in lieu of payment arrangements, no; one payment toward a past due balance will not stop or delay repossession of the vehicle.
What is the past participle of qualify?
Qualified is the past participle of qualify.
How many days deliquent can someone be on a car loan in Connecticut before facing repossession?
Typically, one day past the grace period. Some lenders will only permit a debtor to be two weeks delinquent before starting the repossession machine.
What is meant by term non-performing loans?
A non performing loan is that loan whose maturity date has been past but a part of loan is still outstanding.
What happen if you sold your car after you took the car loan?
After your vehicle is repossessed by the lender, they can put it up for sale, but, you have a time period to redeem it, paying the amount in arrears, plus collection costs.Upon repossession, you have the right to recover any personal items in the vehicle.The lender can sell on the bank lot, or at auction, and then sue you for the remainder of the loan and costs, not collected at sale. The repossession will go on your credit rating (for 7 years).Time periods for actions in a repossession vary by jurisdiction, and, as I am not a lawyer, only a repossession agent in the past, you should consult an attorney or your state Department of Motor Vehicles by phone or visit their website!
Can you be past due and still get a car loan?
Depends on your definition of past due. If you mean past due "by a few days late all the time", then yes you can still get a loan. If you mean past due "30 days or more past due here and there or infrequently then it may be more difficult but yes you can still get a loan. It will refect in the rate and terms offered-the more past due, the higher the rate. If you are "constantly late, then probably not! Your credit reports will refect payments that are 30 days or more past due (ex: due on the 1st and pd after the 1st of the following month), they will not refect payments that are 10 or 15 days past due.
If you have not been given a repo notice yet can you pay half of the past due balance and still avoid the repo?
You don't have to be given "any notice" of an impending repossession. That is all covered in the fine print that you signed when you got the loan or bought the car. Best thing is to contact your lender and see if you can work something out.
Can you reinstate an auto loan after repossession in Texas?
In Texas, reinstating an auto loan after repossession is possible if you can pay the past-due amount, including any fees, within the lender's specified reinstatement period. Typically, this period is set by the lender, and you must act quickly to avoid losing the vehicle permanently. However, not all lenders allow reinstatement, so it's essential to check your loan agreement and communicate directly with your lender for options. If reinstatement is not possible, you may need to consider other alternatives, such as negotiating a new loan or purchasing the vehicle back at auction.
Can you loan again after you paid your past loan?
Yes you can
