Loans

The primary borrower is responsible for making the payments and adhering to the terms of the lending contract. The cosigner is legally obligated only if the primary borrower defaults on the lending agreement or files bankruptcy (chapter 7).

It depends entirely on where you try to buy the car. You can get a car at a buy here/pay here kind of place with almost no credit. However, the finance charges and penalties for late paymetns are very stiff. You can get a car from a major dealer with a credit score of around 700.

i was told get a student credit card, or get a secured card where u send them an amount of money ($500) and they send you a card, then u spend the card and make payments, its your money so its secured by you. best way ive heard.

I am trying to figure this out myself as I have recently filed bankruptcy and both my husband and I are students. There is a portion of the bankruptcy code that makes it illegal for government agencies to refuse student loans to those who have filed bankruptcy. So, as far as getting Title IV funding, such as government backed loans, you should still be able to get them. Title IV loans are not granted based on credit worthiness and therefore should be given to those who have filed banlruptcy, as long as there are no other eligibility issues, such as a student loan in default, drug conviction, etc.

If you want to get a loan from a private lender, then they are under NO obligation to give you a student loan if you have filed bankruptcy or have other credit problems. For example, the Plus! loans that are available to parents are based on creditworthiness, so a bankruptcy would affect your ability to get this type of loan.

As far as my student loan after bankruptcy, I did have to fill out additional paperwork and am still awating the results. I will post again after I find out what happens.

A car lease can be thought of as a long-term car rental. If you choose to lease rather than buy, you will not own the car. You will simply be leasing it for a predetermined period of time.

When you lease a car, you are not leasing it from the car dealer itself. You instead lease it from a leasing company, who in effect buys the car and rents it to you in exchange for your monthly payments. This leasing company can be the financial arm of large automakers (such as GM Finance or BMW Finance) or may be an independent leasing company of the dealer's choice. The dealer generally acts as an agent on behalf of the leasing company in negotiating the terms of the car lease.

The most common type of car lease is called a "Closed End Lease". In this type of lease, you and the dealer agree on the length of time and interest rate at which you will lease the car, and also on the final value of the car at the end of lease (called the "residual value" of the car). When your lease is over, you can either turn your keys in or you can exercise the option to buy the car at the pre-agreed residual value.

It should be worth noting, that an open-ended lease is practically unheard of these days. Any legitimate car dealer should be offering a closed-end lease.

It dekpends upon the laws of the state in which the married couple reside. In community property states all property acquired during marriage is considered jointly owned regardless of whether both or only one spouse's name is on the title or deed. If both spouse's are on the lending agreement it would be prudent for both to be listed on the title preferably with their names separated by "and" rather than "or".

The lien holder owns the vehicle and can legally hold the title until the loan agreement is settled or paid in full.

Yes

Mortgage loans are the loans that are obtained by keeping a security against the amount of loan opted for. Most of the population that opt for mortgage loans try to apply for the home mortgage loan.

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That seems like an error. Go back to the attorney or title insurance agency or whomever worked up and filed the paperwork. Let them know that there seems to be a mistake and that you'd like it taken care of. They should do it all as part of the original fee.

It depends on whether it's considered "fraud". The bank can go after you wherever you are if it's determined to be fraud.

You'll have to pay off the bank and get the title cleared.

Private mortgage insurance or PMI is insurance to protect the lender if the home is foreclosed upon and there is a deficiency. That deficiency is paid by the insurance company. It would not appear to have an effect on the foreclosure proceeding, just on your liability for a deficiency. However it is to your advantage also to have MI if your house goes into foreclosure. Not only do they pay the lender and cure a portion of the definciency, but often they get involved up front and try to work with the borrower and lender both to avert the foreclosure. That way they are paying a lower claim and the borrower gets to keep their house. I've even heard of the insurance company helping the borrower get short term loans, renegotiate the mortgage or helping them find a buyer.

10 years. However, students with large loans can get longer repayment terms.

Not as a cosigner unless they are on your insurance. Or if you are the parent and they are your dependant. Either way you COULD be sued but you would win regardless. Y-THINK-Y

Yes - and no. They may pull partial credit reports if it is determined that you are a significant default risk or if you are going into default. Also, if you are working on a loan and the old bureau used to qualify you has expired, they do not need to seek permission to repull as they need to to complete the work you have already hired them to do.

It would depend on the contract you signed when you purchased the car.

Depends on your insurance company.

As a co-applicant, co-signer or joint account holder, your financial repsonsibility is the same as the primary or other co-applicant. If the first fails to keep up payments, then you become responsible for the debt.

NOT EASY!!! THEY DON'T CARE!!! IT'S STILL A REPOSESSION NO MATTER WHAT!!! VONUNTARY IT IS BY YOU BUT TO OTHER CREDITORS, IT JUST DOESN'T MATTER AT ALL. WHEN THEY LOOK AT YOUR CREDIT REPORT, THEY WILL ASSUME IT WAS REPOED AND YOUR CREDIT RATING IS SHOT TO HELL.... TRY TO SELL THE CAR. HIDE IT, UNTIL YOU CAN SELL IT AND PAY THE LOAN OFF. REFINACE IT IF YOU CAN, ASAP......

The person would have to be on the deed to have an automatic claim to the property or any profit thereof. In lieu of that, unless the owner voluntarily shared funds garnered from refinancing or sale of the property, the interested party would need to file suit to try and recover his or her portion. Please be advised, courts require proof that a verbal contract or understanding was made between the parties as to shared property and/or assets for which there is no written binding contract. The interested party would need to present receipts of monies paid, bank account statements (if the account is joint it likely will not be relevant), sometimes witnesses to such agreements are helpful but only minimally.

Just because you have bad credit doesn't mean you cant want to improve yourself. Seriously there are many places you can look on the internet that offer financing..

Yes unless responsibilty for certain debt is clearly stated in your divorce papers. If her name is on the loan as co-signor then yes she would be responsible.

As of today, 6/15/06--I would be quoting a rate of 10.5% and 11.875% depending on which type of loan a customer would want. A 30 yr fixed would have the higher rate. Picking a 2/28 arm or a 3/27 arm with a prepayment would give you a lower rate. The lender would want a prepayment (or you pay a fee at close not to have it) as the lender wants to keeps the loan long enough to make some money. This type of loan may require a larger downpayment if you are buying, or a lower LTV if you are refinancing. You may still qualify for a 100% loan but the interest would be about 11.5% You need a mortgage broker that you can depend on to get you the best rate available to you because of the score and what your actual credit looks like ( the why it is so low). You are going to need a lot more informatino that just a FICO score. Income documentation, property type and value, loan balance, mortgage payment history and a host of other factors play a part in this. Assuming a full doc loan with a verifiable 3rd party mortgage or rent history with no 30 day lates on a suburban SFR purchase of around $200k with 20% down, you can probably get down around 8.5%, but there are too many factors to say for sure. The best thing you can do is go to a reputable mortgage broker who can shop the rate with a few different lenders.