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If a co-buyer is on the contract and is making the payments does the co-buyer receive the credit points or does the buyer?
Both the co-buyer and the buyer get the credit and the blame if the loan is not paid. Co-signing on the loan is the same as getting the loan.
Is the co signer the same as the co buyer?
No. The co-buyer has an ownership interest in the property. The co-signer does not and only guarantees the loan will be paid. The co-signer is equally responsible for paying off the loan if the primary borrower fails to pay.No. The co-buyer has an ownership interest in the property. The co-signer does not and only guarantees the loan will be paid. The co-signer is equally responsible for paying off the loan if the primary borrower fails to pay.No. The co-buyer has an ownership interest in the property. The co-signer does not and only guarantees the loan will be paid. The co-signer is equally responsible for paying off the loan if the primary borrower fails to pay.No. The co-buyer has an ownership interest in the property. The co-signer does not and only guarantees the loan will be paid. The co-signer is equally responsible for paying off the loan if the primary borrower fails to pay.
How can I go about selling a financed car privately?
To sell a financed car privately, you will need to first determine the payoff amount of the loan. Then, you can find a buyer and negotiate a price. Once you have a buyer, you can arrange for the sale to take place at a location where the buyer can pay off the loan directly to the lender. After the loan is paid off, the lender will release the title to the buyer, completing the sale.
Can you sell a mobile home before it goes to foreclosure and do you have to give that money to the mortgage co?
Of course you have to give the money to the mortgage company. You own the mobile home subject to the loan you got to pay for it. An intelligent buyer will make certain the loan is paid or they will take possession of the property subject to your lien.Of course you have to give the money to the mortgage company. You own the mobile home subject to the loan you got to pay for it. An intelligent buyer will make certain the loan is paid or they will take possession of the property subject to your lien.Of course you have to give the money to the mortgage company. You own the mobile home subject to the loan you got to pay for it. An intelligent buyer will make certain the loan is paid or they will take possession of the property subject to your lien.Of course you have to give the money to the mortgage company. You own the mobile home subject to the loan you got to pay for it. An intelligent buyer will make certain the loan is paid or they will take possession of the property subject to your lien.
Do you have to pay off a home equity loan when you sell your house?
Yes. The buyer's attorney will make certain the mortgage is paid off from the proceeds of the sale. They are obligated to do so.
If a co-buyer is on the contract and is making the payments does the co-buyer receive the credit points or does the buyer?
Both the co-buyer and the buyer get the credit and the blame if the loan is not paid. Co-signing on the loan is the same as getting the loan.
What is the difference between the buyer and co-buyer?
Nothing. They are just two people saying they will be responsible for the loan. The difference is where you sign on the contract. Legally there is no difference. The co-buyer by signing is saying that they will insure the loan gets paid. If the loan does not get paid the co-buyer can have wages garnished and basically get the wrath of someone else not doing what they are supposed to.
Is the co signer the same as the co buyer?
No. The co-buyer has an ownership interest in the property. The co-signer does not and only guarantees the loan will be paid. The co-signer is equally responsible for paying off the loan if the primary borrower fails to pay.No. The co-buyer has an ownership interest in the property. The co-signer does not and only guarantees the loan will be paid. The co-signer is equally responsible for paying off the loan if the primary borrower fails to pay.No. The co-buyer has an ownership interest in the property. The co-signer does not and only guarantees the loan will be paid. The co-signer is equally responsible for paying off the loan if the primary borrower fails to pay.No. The co-buyer has an ownership interest in the property. The co-signer does not and only guarantees the loan will be paid. The co-signer is equally responsible for paying off the loan if the primary borrower fails to pay.
How can I go about selling a financed car privately?
To sell a financed car privately, you will need to first determine the payoff amount of the loan. Then, you can find a buyer and negotiate a price. Once you have a buyer, you can arrange for the sale to take place at a location where the buyer can pay off the loan directly to the lender. After the loan is paid off, the lender will release the title to the buyer, completing the sale.
Can the co-buyer have their name removed from the title once the loan is paid off?
Yes, the co buyer can have their name removed from the title. You can go to the title office and have it removed.
Can you sell a mobile home before it goes to foreclosure and do you have to give that money to the mortgage co?
Of course you have to give the money to the mortgage company. You own the mobile home subject to the loan you got to pay for it. An intelligent buyer will make certain the loan is paid or they will take possession of the property subject to your lien.Of course you have to give the money to the mortgage company. You own the mobile home subject to the loan you got to pay for it. An intelligent buyer will make certain the loan is paid or they will take possession of the property subject to your lien.Of course you have to give the money to the mortgage company. You own the mobile home subject to the loan you got to pay for it. An intelligent buyer will make certain the loan is paid or they will take possession of the property subject to your lien.Of course you have to give the money to the mortgage company. You own the mobile home subject to the loan you got to pay for it. An intelligent buyer will make certain the loan is paid or they will take possession of the property subject to your lien.
Does a co-buyer and co-signer have equal weight as far as credit?
Both the co-buyer and the co-signer get equal credit. Regardless of who is on top of loan. Also hurts equally if not paid.
How does the owner get their name off the car loan?
The loan must either be paid off at which point the bank sends the title slip to the "owner" or the bank agrees to transfer the loan to someone else's name (the new buyer).
How do you sell a car before its paid ff to the bank?
You can't. The lien holder is the owner. The buyer would have to qualify to take over the loan.
Can you sell a car with a defaulted lien?
Of course you would give notice to the buyer that there is a default of the car loan in effect. To not give notice to the buyer would constitute fraud. You must be able to pass clear title to the buyer. If there is a car loan in effect the lender must have possession of the title. The buyer should contact the lender for a payoff figure and to arrange to have the loan paid off in order to receive CLEAR TITLE on the vehicle. You may not receive any of the proceeds of the sale if you owe the bank as much as the price the buyer is willing to pay.
If someone cosigns on an auto loan and you want to sell the car before it is paid off does the cosigner need to be a part of the sale?
You can as long as the title says:(example) John Doe or Jane Doe, if it says John Doe and Jane Doe then the cobuyer has to be a part of the sale.
What does owner will carry mean when buying a car?
I think it may mean that the seller of the vehicle will "hold the loan" or will let the buyer make payments to them and once paid in full, seller will then sign title over to buyer.
