Loans

Canadian Law can allow the Landlord to waive collecting of rent for as long as they wish, but if the renter is more than 30 days later with their rent then you have the right to tell them to leave and give them 1 months notice before you re-rent the suite or house. Go on www.google.com Type in: Tenants Act in the U.S. (or Canada) You'll see what the laws are. You can also have the police escort the renter out and, after 30 days by Canadian Law you can change the locks and hold the tenants possessions until they cough-up with the rent and if the suite or home is damaged as a Landlord you have the right to hold back the damage deposit as well.

Try contacting the Bankruptcy court that handled your bankruptcky case and see if the clerk of the court can answer the question, if they can't answer the question, ask the clerk to see if they can refer you to someone who can answer this question. Also do some research and see if any lawyers will do pro bono "free" work to help you answer the question. I am not a credit expert of any kind, I hope these suggestions help

If the borrower isn't living up to their obligations, and affecting the co-signer's credit rating, they have every right to ride the borrower about it. The borrower convinced them that they were worthy of the co-signer's trust. they need to live up to that obligation.

Depending on whether an individual is a Wholesale Lending Account Executive or Correspondent Lending Account Executive, the earnings range will varry enormously. Generally speaking, these are mostly-commission based position where the Account Executive is paid in fractions of a percent on the total amount of mortgage transactions that he/she funded with the loan applications submitted to him/her from broker clients. These percentile fragments are known as "basis points" or simply "bps". One bp is 1% of 1% (0.01%). The national average commisison rate for Prime Lenders' Wholesale AEs is between 10-12bps. AEs in Subprime lending average about 25-30 bps. Well how do these bps translate into actual paychecks? An established and well versed AE in CA working at a mortgage bank with good reputation can average about $10,000,000 in monthly funding. So, if this happens to be a Prime lender where the average commission rate is 10bps, or 0.1%......then the commission check will be 10,000,000 x 0.1% = $10,000
If this happens to be a Subprime Lender with average 25 bps, then commission would be 10,000,000 x 0.25% = $25,000.

You will have to refinance your loan in order to get his name off. The loan now has both of your names on it because you both appied at the same time. This mortgage has to be paid off in order to remove the ex-spouse. That means you will have to apply for a new mortgage in your name only.

You can only mortgage your own interest in the property. Generally, the lender requires that all owners consent to a mortgage so that in the case of a default, it can take possession of the property by foreclosure. Therefore, it is likely the lender will require that the other owners join in the mortgage.

Usually not. Most if not all loan agreements require you to pay on time each and every month. Usually, some loan companies will give you 10 to 12 days after oyur due to date before late charges set in. If you think you may miss a payment call your loan company to work something out. You can make two payments the next month, pay as soon as possible, or whatever. Usually creditors will work with you if you may miss. Don't abuse any privileges you may be given though, as your contract can be revoked if you're late too many times, and your property, if any, repoed. If you find you may be late on a certain time of the month, consider having your due date changed. Remember, loan companies want to work with you because your business to them as they benefit from the interest fees. Most business will only take so much from a consumer who can't pay, so be careful.

Provided the estate is solvent, she should be able to obtain the title to the home, subject to the remaining mortgage. She can remain in the home, but will have to satisfy the finance company's lien on the home through a new mortgage or paying it off. There may be additional clauses in the will directing that the mortgage be paid off by the estate. The executor of the estate, or their legal counsel, will be able to answer these questions.

Typically 50% Debt to Income ratio. Some lenders will let you go higher. For example I have gotten customers approved with a DTI ratio of 124%, but the customer had over 500K in retirement funds and a medium credit score of 803 and the Loan to Value was only 60%. A lot of different factors go into providing an approval to a customer. What I would recommend is to call your local bank and see if you can do a free pre-approval to see if they can get you approved based on your particular situation. The original question pertains to DTI ratios for mortgages. The standard "front ratio" is 28 percent. To calculate the front ratio, divide the total payment (principal, interest, insurance, and taxes) by your gross monthly income. If it's over 28 percent, you may not be eligible for conventional mortgages. The standard "back ratio" is 36 percent. To calculate the back ratio, add up all your monthly debt -- mortgage payment, credit cards, school loans, car payments, etc. -- and divide that by your gross monthly salary. If that is more than 36 percent, that may also disqualify you.

Be very cautious about co-signing for a loan. If the primary borrower defaults, you are responsible for the loan payment. It also may affect your ability to get a loan if your debt to income ratio is already high.

No. You pretty much would need to "square up" with the tax man for the gain on your investment, when that gain is realized. What you use the gain for really isn't relevant....and in fact any money you use to purchase (which I guess is what you mean by refinance) your residence is after tax money anyway. The gain on the sale of your primary residence may be given some tax advantages, and that is a law very specifically sculptured for protecting the gains/equity of peoples resideces, (as differentiated to their other investments). Also, simply using gains made somewhere else to lower debt on your house, doesn't change the amount of eventual gain or loss on that property either anyway, just how much is needed to pay of the existing encumbrance. Consider, the amount it appreciated is still the same. Finally - if the tax considerations of selling your investment property are of real concern, you should consult someone about doing a qualified Sect. 1031 "Like Kind Exchange". (Avoiding tax is almost always impossible and perhaps illegal, this section of the law allows you to DEFER the tax on the gain of an investment, basically by reinvesting in another item - it can be physically different - like an apartment for an airplane - until the final qualified investment is liquadated. There are many requirments of all types, including reporting, to how it is done and an expert in the field really should be used).

Car loans are riskier than home loans. The car looses value from day one, is in danger of collision and theft and has a limited life span. In addition, the vehicle can 'disappear' in a hurry, leaving the lender holding the bag. Homes are not mobile, real estate traditionally increases in value and the loan is over a much longer period of time.

Yes, you can. Part of determining eligibility for financial aid is your "cost of attendance" (COA). The COA includes tuition, books, fees, and estimated living expenses. Your total financial aid, including the free tuition you're getting from the school can't exceed the COA. You can receive other aid up to the unmet cost. This will probably be in the form of student loans or work-study depending on your financial situation. The financial aid office can tell you what your options are.

He can't do anything as long as you are making the payments on time and if you are it is probably helping his credit unless it shows he has excessive obligations. He can't repo it anyway, only the finance company can do that. See if you can get the note in your name, maybe a new one and his name off the title. This is obviously a personal conflict, so try to get rid of it. Your note, your title, your car.

The petitioner submits the repayment schedule/plan to the court and the court decides whether or not it is acceptable. The best option for the petitioner is to retain a qualified bankruptcy attorney rather than self-filing, as the forms, required documentation and so forth can be complicated to say the least. If the petitioner qualifies for the bankruptcy he or she should be aware that they will be placed on a very strict budget, which is one reason so many people fail to complete a chapter 13 BK ("Adjustments of Debts of an Individual With Regular Income").

When you sell your home all liens against the property have to be paid so you will have to pay off the second mortgage at the closing.

If you are getting a Federal Student Loan credit is not an issues. I just got a Federal Student loan and my credit is BAD!!! The thing is, is that it's a Federal Loan so you will always owe that money, even if you claim chapter 7 or 13. I was worried about that too, but I got one just fine.

It will have no affect on the mortgage as long as the lending terms are met by the primary borrower.

Yes.

The car will be sold at a public auction and the borrowers will be responsible for any difference between the selling price and the loan balance plus the allowable repossession and other fees.

The lender is legally required to make a reasonable attempt to get the fair market value of the vehicle, unfortunately this does not always happen and that sometimes leaves the borrowers with a substantial amount of debt to repay.

Multiply the balance of your mortgage times your interest rate. Add this number to your balance. Divide by 24. Make that payment each month. This will get you close. Your very last payment will be off slightly so before your last payment, get a payoff statement(not a balance inquiry)to get the exact amount required to pay off your mortgage. For example: $100k * 7% = $107k $107k / 24 payments = $4458.33 per month. In this case, the ACTUAL amount needed to pay this would be $107,454.24 but that was figured using a financial calculator. In reality, the above example would leave you $454.24 short of a complete payoff on your last payment.

Yes. The lender can file a lawsuit in the debtor's state and if awarded a judgment can execute it as a wage garnishment.

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.

First of all it would not be possible to be on the title of a leased vehicle, as the leasor retains ownership rights. A cosigner is only responsible for the debt if the primary borrower defaults on the lending agreement.

At the time any terms of the loan agreement are not met, (late or missed payment, lapse in insurance, etc.).

Go to your bank, negotiate an agreeable finance rate, pay off the buy here pay here. You will still have monthly payment but, usually at better rates without the hassle.