Loans

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If the co signers credit is going to be affected because of the lack of payments from the payee, and if the co signer is paying for the payments, then yes the car can be given over to the co signer, especially if the payee is not paying for the car that was agreed upon. check with the finance companies, and your local state, county laws.

all universities, community colleges, trade schools, technical colleges, etc. have financial aid programs- even typing college, bartending school, court reporting school.

One of the best places to find out about fianancial aid is the college financial aid department. The staff need to keep up-to-date with sources of financial aid that can be received from various departments on campus as well as sources of information off campus, such as the Pell Grant from the U.S. Department of Education. One of the first places to look for financial aid information is the financial aid department of any college.

Yes, your parents can cosign for a loan and if you are smart keep up the payments on that loan as it will give you a good and early credit record. If you don't keep up the payments it's a lousy thing to do to your parents, and they will be stuck paying that loan. Marcy

No! In recent years banks offer and approve mortgage loans for non US citizens regardless of the money source. Programs designed specifically to attract said business were announced by Wisconsin banks, and others in early 2005, in the Wall Street Journal. No! In recent years banks offer and approve mortgage loans for non US citizens regardless of the money source. Programs designed specifically to attract said business were announced by Wisconsin banks, and others in early 2005, in the Wall Street Journal.

How about tell the 20 year old adult to pay for her own car insurance? Or you can transfer the title to her, so she legally owns the car and she can apply for car insurance, which you will keep paying. You cannot legally own a car in Washington DC without having valid insurance. If Texas is her permanent residence and they don't require insurance(I assume this is why you are asking)then she can have the title transfered to her name in Texas. To prove permanent residence doesn't mean you have to live in an area most of the time. You just need to have your bills sent there. Think of congressmen who live the vast part of their time in DC, but have residency in their home state.

If you have a good credit score in the US there are some banks or mortgage compaines that don't require US citizenship. However it would be hard to have a good credit score in the US without citizenship as generally you need a social security number to apply for things like credit cards that build credit.

Only if you live someplace where 17-year-olds can legally enter into a contract, in other words, they are not considered minors. Otherwise you'll need an adult co-signer.

There are several factors that come into play here. First, you need to find out if there is Credit Life Insurance (CLI) on the loan. Many banks and other financial institutions offer this at the time the loan is made. This type of insurance is designed to pay off the loan in case of death. Find the original paperwork from the car purchase/loan if possible as the CLI information will be with it. If no luck there, call the financial institution with the loan and ask them if CLI was puchased. If CLI was purchased, then you will need to contact them and tell them that your husband has died which will then put things into motion for them to take care of loan. Once that is done, the car then belongs to whomever it is willed to.

If you have CLI.. stop reading....

When a loan is made where there is collateral used (as in this case) to guarantee payment, then that loan must be paid out.. or the collateral (the car) given up to the lien holder. So... if whomever receives the property does not continue to make payments on the loan, then the financial institution has the right to repossess the collateral. Advising the loan company who now has possetion of the car, simply tells them 1)where to look for payments and 2)where to go get the vehicle if payments aren't made.

I am assuming that since you stated the car title was transferred to your name then there is not problem with the will and probate.

One other point, if the car title is not a 'lien title' and in most states is will show the lien holder name on the title if there is one, then there is effectively no 'lien' on it. However, that may not save you from legal action should the financial institution be able to show valid paperwork that indicates the vehicle was used as collateral.

Last point your husbands estate consist of all assets and all liabilities that he has acquired and accrued. Liabilities must be taken care of with the assets of the deceased. Should there not be enough, then the owner of the debts against those assets are entitled to invoke the default provisions contained in the loan documents.

90, but don't push your luck. If you can't afford your car, your best option is to contact whoever financed it and explain your dilema. They want your money, not your car, so they will attempt to work with you. Ignoring them is alot like car theft. I would say 30-45 days 90 is pushing it.

It depends upon the laws of the state and the way the title to the property is worded. In most states the homestead exemption protects the primary residence from forced sale by creditors, but not from the execution of liens. If the home is held in the name of the debtor only, then it would be subject to creditor attachment. The mortgage issue is only relevant if the mortgage itself is defaulted upon.

Yes. The interest only loan is simply that. You are only paying the interest on your loan. None of your payment is going toward the principle loan amount. The main advantage of an interest only loan is the drastically low monthly payment that you make compared to a traditional mortgage. Most of the interest only loans are based on a 10yr. term and MUST be paid off at that time. Most borrowers refinance at the 10yr. mark. This program is offered to borrowers with very good credit. A smart borrower knows that in the early years of a traditional mortgage his payment goes almost entirely toward interest. Gradually over the life of the loan his payment will go more and more to principle until near the very end of the loan almost all of the payments he is making will be going toward principle. The interest only loan can be used to drastically increase the amount of your payment that goes to principle in the first 10 yrs.. Here's how. Keep in mind that these are not accurate numbers and are being used to make it simple for this answer. Let's say your current payment is $1200/mo. Out of that $1200 only $50 is going toward principle and the rest goes to interest. You choose to refinance with an interest only loan and your new payment is $750/mo. This reduces your monthly payment by $450/mo. Out of the new $750/mo. payment NOTHING goes toward principle. The savvy borrower pays $1000/mo. instead of the required $750 and $250/mo. goes toward principle. This is $200/mo. more going toward principle than the traditional mortgage where only $50 was going to principle. It is also $200/mo. less than you were payingbefore. So your monthly payment is lower and you are chipping away at the principle of the loan much faster at the same time. Do some math and you will see how much faster your loan amount decreases compared to a traditional mortgage. Another advantage of the interest only loan is that you are only required to make the $750/mo. payment. So if things are tight one month...you can just make the interest payment. It only takes a little gumption to make this work for you. I am a licensed Loan Officer and have seen first hand the benefits of this program when it is used properly. Hope this helps.

No! That's what a Probate is. Usually lawyers will do the leg work for Probate and this means they will be sure all titles are clear on homes(s) or properties. They also make sure all creditors are paid off and this includes property/personal taxes. mortgages and loans. Because of Probate the mortgage lender would be paid out of the Estate and the residue of that Estate would be left to the Heirs. Marcy

if you have already refied your home you can't do it again. make sure the first loan is paid off and then do it again.

Our GA attorney never reaffirmed our home or 2 cars as he was supposed to. I learned several things about BK from this. 1) Once you have a completed BK, the unaffirmed agencies can not pursue you for debt collection (calls, letters, etc.) 2) One of our cars was stolen and partially paid off by the insurance company. We were upside down by a few thousand dollars, but the loan company never contacted us. (see #1) 3) With our house, we were told that foreclosure could not take place until 90 days following non-payment. 4) Nothing got reported to the credit bureaus for our cars or loans following our BK of 2003 even though one of our vehicles was paid off completely. Our credit report stated that our car loans were involved in BK. There was NO payment history from our BK to present for either! Keeping the loan current will certainly keep you in wheels and keep the creditor happy, but it doesn't seem to improve one's credit rating. I did read, however, in an earlier question, that BK plus a foreclosure is a double-whammy to your credit. Different rules may apply for GA than your state, but I would certainly look into this further before I allowed a foreclosure. Hope this is helpful to you!

They usually ask [ is so and so employeed and for how long ] they may look in the phone book to see if the business is real and varify the address and phone number.

Income is done through pay stubs, or tax statements scedule C or 6 to 24 months personal bank statements [ deposits added together divided by 6,12 or 24 months is the income ] Business the same minus 25% to 50%.

If the loan is stated they ask no questions about income.

If it is no doc they ask no questions about empoyment.

Depends on your state. In AZ, they cannot liquidate the collateral for ten days after repo. If it has been longer than 10 days, they can sell it and you would still be liable for the amount due (minus what they made off of the sale of the vehicle).

Yes they can.They police do not need to be contacted nor a court order used because it involves contract law not criminal law.They may come on your(the loanee's)property to repo however they may not enter any structures nor cause any damage. Yes. Involving the police prior to the repo would constitute a wrongful repo. When you financed the car, you authorized the car company to repossess the vehicle if payments fell short. Ask yourself this, what would be cheaper, easier and less stressful? Paying the payments on time or going through the whole repo process? Hmmmm.....to me it would be the first one. Of course it's called self-help repossession. Most police departments do not require that you call and report anything unless there is no contact at the time of the pick-up. It's a good practice though to do it every time anyhow just so there is a record of the time and date. Plus it helps when idiots call it in stolen even when they know it was repossessed.

N.C. law does not allow wage garnishment when it concerns creditor debt. Be advised though, the creditor can take legal action to seize other non-exempt property belonging to the debtor.

In my state the trustee can not order this but each State has a percentage of the equity in the home that may have to be used to pay creditors. You can tell the Trustee that you will refinance the loan if you need to after one year. You can Show them FHA Guidelines that state you must make your payments for one year on time before you can refinance or buy another home. You can do this even if you are still in a chapter 13. However your paments can not be more than your piti [ your payment, insurance, and taxes per month. pmi also it you have this ]. You can midigate this by getting an appraisal showing the trustee you do not have the equity in your home. Ask your attorney what the ratio is in your state concerning equity.

Yes it's their car you signed a lease they don't need a title to repossess their car. Title or no title they look up that information and have it mark on that title that the car was repossessed

Per NASD and the SEC an act doesn't have to be illegal to be improper. Anytime there can be the insinuation of conflict of interest it is improper. In this case it is improper unless there existed a prior documented relationship that supports the situation of a personal loan between the two.

I presume that the person asking the question is referring to a loan with so called "levelized payments". Most mortgages have levelized payments which means that during the duration of the loan each month and each year you pay the same amount to your lender. Each payment to the lender consists of interest and principal payments. Via the principal payments you repay the lender the amount you borrowed. Interest is the compensation you pay for borrowing the money. This is the profit for the lender. Every time you borrow money you only pay interest on the amount that you owe the lender. When you first borrow money and have not paid back any principal, you have to pay interest over the entire amount you borrowed. After you have made several payments you have repaid part of what you have borrowed from the lender. The amount outstanding is lower than in the beginning. Hence the amount of interest you have to pay is less than in the beginning. Let's assume the principal is $100. In the beginning, the interest is calculated on the entire principal that is outstanding i.e., $100. When you pay $20 as installment towards repayment of the loan, $6 (say) goes towards interest component and the balance $14 towards principal repayment. Hence the principal outstanding is now $100- $14 = $86. The next installment is also $20. The interest component is 6% of $86= $5.16 (as against $6 for the previous installment). The principal component = $14.84. The outstanding principal now is $86 - $14.84 = $71.16 and so on. You can see that the interest component keeps decreasing while the principal component keeps increasing with time. The key is that the interest is calculated on the outstanding principal and hence varies with time.