Loans

My wife and l bought a condo and it is in both our names but the loan is only in my name We just bought a house but the mortgage loan is only on my name. The title and deed is is both our names.

The answer is when he dies the reverse mortgage company will settle up the loan, so you will have to either sell the house or refinance with a new mortgage.

It won't help much unless you can sweet-talk the lender and convince him to remove the repossession from the credit report. Otherwise, the repossession stays on the record and the only 'improvement' to your credit rating would be the lack of an accompanying past due status.

If you are trying to refinance your mortgage... it will affect the interest rate. (it will be higher) It will haunt you for at least 12 - 24 months.

Just the loan holder (You) will be affected by this on credit reports. You two were wise to protect his credit so he comes out A-1 even though your credit is destroyed. Now you can use his excellent credit to secure a new home.

If you are renting the property from someone else and do not own it, no, because a home equity loan is like a mortgage. The lender has a lien on the property if you default on the loan. If you are the owner of a property and rent it out, yes you should be able to get a loan with the property as security.

No, a co-signer has no legal right to a vehicle unless they are on the title.

If you borrow 20K over 5 years your payments are going to be 333 a month, how are you going to live? There is an old adage about cutting your coat according to your cloth. I think a 2k car is all you can afford.

The bank will take your car and resell it at an auction. Any difference between the loan and the auction amount must be paid by you. In some states (check with an attorney), your car is the full payment and you owe nothing in the end if your bank takes it.

No yes generally speaking 6 cr hours would allow you to do such the problem lies that your progression merits 'need' you can defer when your not in school but interest will kill you

Generally, most insurance policies that afford "Replacement cost coverage" will only pay the depreciated value (or "actual cash value") up front until the repairs or replacement actually takes place. In the event you will not repair or replace the home where it stood, you would only be entitled to the actual cash value. Otherwise, they will pay the difference between the ACV and actual replacement cost (less your deductible) only after the repairs are complete. Most policies have a time limit on how long you have to make a claim for the replacement cost.....usually 6 months!

Any title holder must relinquish ownership by signing the title release

Only if the crash was a result of a mechanical defect in the car, and you knew of the defect before loaning the car to them. If the crash resulted from their actions while driving (or another person's), you are not liable. If the person driving your car was at fault, you will be responsible for any damages.

Yes, in many states they will.

An automobile loan is secured by the vehicle title, meaning that the lending institution has filed legal notice of interest in the vehicle. Even if you file chapter 7 bankrupcy, the lending institution can repo the car if you don't make payments.

I just talked to a friend of mine today about this. She says that if you do not have any late payments sent your bankruptcy discharge your credit is good. She also said I'd be suprised to see how many lenders are willing to loan to me after the discharge of bankruptcy. This of course depends on wether or not your payments are current or if you have incurred any additional bills. Good Luck!

In cases where your mortgage is sold to another bank, you usually have a grace period of 30 days or more to pay the new company. If the old company says you are late, then you are late and it will eventually show up on your credit report. But call your mortgage company to be sure of all this, they will work with you since they want your business and don't want to have to take your home away - they get a lot less for it at an auction. You may have a fee to pay for being late.

Just explain your situation to them and ask them if you can make intrest only payments until things get better. They're usually good about that and they will just tack the payments on to the end of the note.

If you're on the note and it's not being reported to your credit bureau.....you need to contact the creditor and demand that it be reported. If it IS being reported......then.........it IS helping your scores.

It will help it - usually 20-80 points - It actually effects it forever.

Shop around with the larger banks. Like Wells Fargo, National City Mortgage Corp, ABN-Amro. Small brokers are more likely to charge additional points on the loans than large banks. This is due to the larger banks servicing their own loans. A broker does a loan but then the loan is ultimatly sold to somewhere for servicing. Also you can go to lendingtree.com and they will help pick I believe 4 competitors for you with the best preices as to what you are looking for. The good thing here is that these 4 companies are all competing for your business. You can see which one will be the best fit for you. If you have great credit there is really no reason a company should be charging you points on a loan.

No. Lender's do not have to extend credit to anyone even if the person meets all the requirements. The exception is that a lender cannot discriminate under the civil rights laws.

You have to receive approval to change your 'plan' from the Bankruptcy court. Usually, if they approve; and , you can find a lender willing to refinance while you are in BK, this means the money you save is then used to pay more to your debtors. if that is what you want to do. Usually, lenders want to see you pay the plan to it's end and then refinance.