Loans

If you stop making payments, the loan is in default. Loans in default get repoed. Loans in default that are out of state get repoed. Cars dont fall off the face of the earth. You will not get arrested by the police or stopped by the police.THis is a civil matter not a criminal one.

You can get a subject to appraisal which I get for rehab loans in my area. This kind of appraisal will tell you the future value of your property after the work is done. This tells you if it is a good idea or not. If the value is going to increase a lot then it will be easy to refi your home or you can go with the above rehab loan and it is a construction [ rehab ] permanent loan. It becomes a permenent loan upon completion. see my bio if you have any questions.

It was never yours to give to the landlord. IF the landlord settled with the LENDER to get title, then YOU are out of the picture completely. EXCEPT for the garnishment of course.

NO. If the lender is trying to repo the vehicle and they can't find it,they cannot report it as stolen. Only the owner can do this. "STOLEN" is defined as "unlawful taking". You did not "take" the vehicle unlawfully. If you refuse to surrender the vehicle the lender may get a judgment (Writ of Replevin) and have the Sheriff's office come knocking on your door and only then will you have to surrender the vehicle or tell them where it can be located. Why stress over a vehicle? The value keeps going down and there are plenty of cars out there to buy. If for some reason, such as illness, loss of job, etc., where you cannot make the payments and no hope of making up the late payments, call the lender and have them pick up the vehicle. You'll get another vehicle one day. Just remember to remove your belongings and the plates. If you added anything on the vehicle you can remove that to. The lender doesn't know if you put in a new stereo system, and the car and everything in it is yours until it is returned.

State laws govern the way real property is titled. When it concerns unmarried persons the propety is titled either Joint Tenancy or Tenants In Common. Joint Tenancy means the parties own equal and undivided interest and both have to agree on any sale or title transfer. Tenancy In Common generally will allow one party to sell their interest w/o the consent of the other owner(s). Concerning private residences, this is rather pointless. It is unlikely that anyone would care to buy half of a house. Usually one of the involved person's buys out the other person's interest.

NO! that is wrong In the state of MAryland the must send a certified letter to the co-signer also. Check your state laws

No. Also most mortgage lenders have a "grace period". The payment will be scheduled for a specific date such as the 15th of the month, but not considered late until the 25th or something similar. Pertaining to automatic withdrawals, if the withdrawal date falls on a bank holiday, the payment will be withdrawn the next regular business day. That also would not be categorized as a late payment.

If the loans are paid in full and you have received the title(s) from the lenders, then it is totally your decision of what amount of coverage to have. Remember, it is now your vehicle 100%. If you can afford the higher coverage why not better protect yourself, family and vehicle? Check other agencies for same coverage but lower rates. Cleaning up your credit may even lower your insurance rates.

NO, co-signor is only notified when its time to pay the loan.

YES! Just wondering how you know that? What would the crime be? What if the person had a cosigner?

The other co-owner or cosigner will be responsible for the debt.

Most lenders want to see at least 12 months of reliable credit history. Meaning all transactions,mortgage, rents, car payments, and the like, have been paid as required in the financial agreement(s).

After one month of being in arrears, they will contact you and issue a warning, after 60 days of being unpaid, they can legally take it back. They own it until the total amount has been paid by you.

I believe the likelihood is very good - your credit score is very good and your income in good - it also depends on how much debt you have - like credit cards etc....

It depends on how much debt you have, what interest rates this debt carries, what rate your 1st mortgage is at, if you are disciplined enough NOT to incure any more debt once a refinance has occurred. If you have a good interest rate on your home loan I would leave that where it is and consider a closed end home equity loan (typically, these loans would be at a rate a bit higher that convention mortgage rates, plus this loan can be written such a way than repayment is spread over many years, and you only have one payment). If you chose to refinance your home, remember that discipline must be maintained to NOT incure any more unmanagable debt.

The spouse cannot be held liable, however it is quite possible that the debt is no longer valid for collection. The person who cosigned the loan should find out what the SOL is in the state in which the contract was signed.

No, a cosigner generally has no legal rights to the property that they are cosigning for.

It depends. What was the result of that error being made? Was your vehicle repossessed because the payment went to the wrong account? As far as "legally filing a lawsuit" you can do that to anyone for anything. Most banks will rectify the mistake by correcting the routing of that deposit and clearing the late fee if they see that the payment was received on or before the due date. However, they can tell if it was an honest error or if you are trying to slip one by on them.

I'M NOT SURE I UNDERSTAND YOUR QUESTION, BUT FROM MY INTERPERTATION OF THIS QUESTION IS YES. YOUR CREDIT SCORE CAN BE AFFECTED IN A POSITIVE MANNER AS LONG AS YOU PAY YOR BILLS ONTIME OR EARLIER THAN THE DUE DATE.

A co-signer will be part of the contractual agreement, and equally responsible for the debt until the loan is paid as agreed or refinanced w/o the co-signer entering into a new contract. The obvious exception would be the co-signer filing for bankruptcy, if the primary borrower should file, the co-signer will be responsible for the debt. Co-signing also has a significant impact on the person's credit rating.

No! You are stuck with owing the 18k and you don't even have the car. Letting the car be repoed was your fault. You should have contacted the lender and worked something out, or made the payments you agreed to. You didn't, so now you will pay, and your credit is ruined for 7 years, and you no longer have that perfect credit. Yes you can get out of owing the 18k its called bankruptcy.....but then your credit score will be less than perfect. Depends on your state, but that is what is referred to as "deficiency" and most states allow creditors to collect it.

If your income comes from other than a salary (i.e, commisions, alimony, child support, trust, etc.) you can use the no income no asset (NINA) procedure Ask your local mortgage company or contact Richard Legare at; richard@alliedhomenet.com for the best rates and lowest fees.

If you pay off your Chapter 13 early and receive your discharge, you won't need permission from the trustee for anything. The case will be over and you can make whatever purchase you qualify for.

The answer is yes and no depending on the type of loan you need and the amount. What kind of loan are you looking for?