Loans

A Mortgage company can not help you get out of chapter 13 when your ten years is up then your be out.

Yes, with an very high interest rate above +20% interest rate so think about if that's something you want to do but, I insist that you pay your debt off first before you get a car loan. Because you payments are going to be skyhigh.

The lending institution doesn't really care, they'll sue BOTh parties to get their money.

It depends on the what is in your credit file when it comes to FHA. The best FHA lenders offer the best rates at 660 minimum credit score. They will also look to see if you need to have a 'manual underwrite' done on your loan. If that is the case, then you will have a higher rate.

My belief is that as long as the mortgage is paid on time by the borrower, there would be no reason to go after the cosigner estate.

That would entirely depend on how well you keep up the repayments... and if you failed the repayments, so long as he pays them, it will not harm his credit...indeed it may enhance it as it shows not only his ability, but willingness to pay off debt for which he signs. personally, i would NEVER put my own money in the hands of someone elses ability to pay... if you need a loan, and don't earn enough, so they want a co-signatory, then chances are grandpa will end up paying YOUR debt.. and there is nothing he can do, if you don't pay a penny, if he's signed up, unless he wants to lose his rating...maybe he feels the same way, and just doesn;'t want to tell you the truth about how he feels on the subject. It will show up on his credit bureau as co-signor and he would be responsible for repayment of this loan if you stop paying.

No, not by him/her self. If the lender will agree to doing the loan at all, a co-signer 18 yrs. or older would be needed. 16 is not of legal age.

No. The car is not your property, nor do you have legal authority to sieze property. It would be considered grand theft.

As a co-signer, you agreed to be just as legally liable for the debt as the borrower. That's why it's a good idea to NEVER co-sign ANYTHING.

yes you may take the car back considering she defaulted on a aggrement between the 2 of you and the bank you are liable for any unpaid debts on the car therefor the car is yours as well....

If the lender sold your car for more than the amount owed but fees are still due, such as the repo fees, storage charges, state taxes for selling etc.--it could be that you may still owe. I would ask for a letter that itemized all their costs and see how they come up with the figure you still owe. They HAVE to keep you informed. If you can, have an attorney look at it and tell you if what they have done is correct. Now--if you still owe- take care of it, borrow from a bank, a relative, if possible--depending on the balance owed--they can place a judgement and/or garnishee your wages.

It's highly unlikely a lender would consider such a request. Additionally, while participating in a Chapter 13 bankruptcy, all major financial transactions must have the approval of the bankruptcy trustee before they can be undertaken.

My sinple answer would be no.

You just can't place your loan in someone else's name. That other person has to get his/her own loan for the car and pay off your loan.

*The point is they are married and although it won't affect her credit rating if her husband is stuck with this loan it will reflect on both of them as far as possibly putting them into debt. If your spouse just cosigned then yes, they are responsible for that debt if their child decides not to pay. If the child does pay the payments then there should be no problem. Cosigning is never a good idea even if it is family because the cosigner is 100% responsible for that debt. * The non signing spouse would not be responsible for the debt nor would it affect his or her credit rating with perhaps the exception of applying for joint credit. Even if the married couple live in a community property state under such circumstances a spouse would not be responsible for the other's financial obligation that involved children of a previous marriage.

you can always get short term loans or try high intrest ones usually all they would have to do is to make sure your a resident and approve you.

YES IT DOES....IF THAT STUDENT LOAN DOESNT GET PAID OFF BY THAT PERSON IT WILL COME BACK ON YOU AND CAN MESS UP YOUR CREDIT.MY FATHER COSIGNED FOR MY SISTERS STUDENT LOAN.BAD MOVE!!! BUT YOU LIVE AND LEARN......SO THINK ABOUT IT FIRST. Yes, it does. The reason is because you have to assume responsibility is left unpaid. This is considered debt to you.

Time is the best cure. The item will not have an impact on your credit report after 25 months from the date of payoff. Sorry. You may also do a letter of explanation, but since you signed on the debt it made you as liable as your daughter.

As of October 20, 2008, they are going to merge with T.D. BankNorth. A Credit Score of 640 is needed for a "Personal Loan". As of October 20, 2008, they are going to merge with T.D. BankNorth. A Credit Score of 640 is needed for a "Personal Loan".

The amount a loan officer makes depends for who is he working for, Banks have loan officers on salary, maybe with bonus, others works on percentages called points, but new Federal regulations are very hard on them now, because some loan officer charged a lot on points to the client to make big profits on them, another reason why people got high mortgages, that later could not be paid.

Sure, if you don't mind losing your entire investment, ruining your credit rating and being hassled by creditors. Ok... enough sarcasm... maybe you need to talk to Suzie Orman. Yes, but the borrower will still be responsible for any deficiency between the loan balance and the amount that the lender receives in the sale of the property. In addition to any deficiency that may result, the borrower is also responsible for all other costs incurred by the lender related to the foreclosure process.

Yes. The terms of the loan were defined when you signed the paper. Most loans state that they can repo the vehicle if the loan is in default and they can declare the loan to be in default at any time after you have failed to meet one or more conditions of the loan. When you didn't pay on time, you were in default. Once you were in default they can repo the vehicle and sell it to dispose of the loan.

With those conditions the lender may ask for a huge down payment and your APR will probably be extremely high, (maybe 9% or MORE!). So yes it is possible but they may also require you to have a huge gross monthly income as well. Also, exercise TONS of patience because most lenders WILL turn you down with a credit report like that.

Ignoring taxes (which may or may not come into play anyway) for a moment: The interest rate, which is the cost of boworring the money, is identified. The lower the rate, the financially better. Simple. But, I'll bet the low Cr Card rate is for a short period, like 6 months, after which it may become much, even several times higher than the HE loan, (which is probably for a payout over many years). Presumably your not expecting to pay off the loan when the rate changes, and as the Cr Card would likely turn out to NOT be the rate your saying here over the entre period you would keep the loan, it would be much higher = financially bad. You also can consider that many Cr Cards have transfer fees, etc. which, like fee's to establish a credit line, work to increase the rate you ultimately pay. Finally, if the HE loan qualifies (there are a number of conditions that need to be met), as a tax deductible mortgage, the rate is effectively lower by the added income tax savings you enjoy. (Of course you only get this if you itemize deductions to start). Say you pay income tax at a 25% rate ($25 for every $100 of taxable income). A rate you need to calculate for yourself, as it changes for everyone and situation. Then, if the HE loan is deductible (the Cr Card one can't be, as it isn't secured by the residence), for every $X of INTEREST (not the principle portion of the payment, only the interest portion), the income tax you would normally pay is lowered by that percentage, so compared to not getting any deduction, it's like getting a lower interest charge.

Sure, why not?