Repossession

no

oiuo

yes

This depends on what kind of loans you had on the home. The law in non-recourse states such as California states:

1)The lender may only take one action against any borrower to satisfy or collect on a debt when that debt is a real estate loan. This means they can sue you or foreclose or take a settlement offer, but whatever they choose is the only thing they can do.

2)The lender must act against the property first. This means a mortgage company can not sue you instead of foreclosing.

This is assuming it was a non-judicial foreclosure (which most are) where they invoked the right to sell the house at auction and did not take you to court to posses the home.

The tricky part comes up when there is a second mortgage involved. Lets say you have a first mortgage of $200k and a second of $50k and your home is now worth $100k. If you stop paying both loans, the second will likely NOT foreclose on you because they would have to pay off the first from the proceeds of the sale. This means the first would loose $100k when the house sells for $100k (ignoring costs and commissions), and the second would have gone to all the time and money to take the house and received no money for their efforts. They can NOT take another action against you because they have to act against the property first. Now say the 1st mortgage decides to foreclose. They auction the house and you no longer own it. They took a loss, but the second lost everything. Now there is no home to take an action against, so the second mortgage company is free to attempt to collect the debt.

Now we have to think of this from their perspective. They've lost a lot of money. They don't want to let that go, but they also want to stop loosing money. Suing someone takes time and money, and they can't be sure you'll ever pay. So, they may sue you, may send the file to collections and have an agency try and get money from you, they may wait until they have a large batch of such loans and send them off at once, or they may decide to cut their losses and do nothing. They are less likely to haunt someone over $5,000 than $75,000, and less likely if the person is unemployed or retired....there are quite a few variables.

At the end of the year any debtor that charged off a loss will send you a 1099c form for forgiven debt that you theoretically have to pay taxes on. Check with your CPA, you may have a "negative net worth" (liabilities totaling more than assets) and may be able to get out of paying those taxes by claiming insolvency.

So the short answer is: after a normal foreclosure the 1st mortgage company can NOT persue you for money in a "one action" state. A second mortgage company can. They will both send you a 1099c and you may have to wotk with a CPA to avoid paying taxes on that amount as income.

yess

Yes, I think it is. We have so many laws concerning things like that.

it varies across the country but they typically make around 6% to 10% of the planes total value

The salvage laws vary by country but generaly large items such as a car need to be abandoned for a year before they can be claimed by someone else.

I have seen it done, yes.

Yes I am here. You do not need to undersatnd that though.

Well your registration will expire, this might leave you open to a ticket by the police if you keep driving. Some states will charge you a little fine for reinstating but otherwise nothing earth shattering.

Chryslers cars

Even if you could you would still owe the bank the money they paid for the car.

Kentucky, California, Washington, Texas and Oregon the tags stay with the car. I'm sure there are others as well. I'd like a full list of these smart states as well.

Yes, you can have an unwanted vehicle removed from your property any time you wish.

USE OTHER AS 'ADDITIONAL INCOME SOURCE'......list additional incomes. did you ever fill in an auto application?

Depending on the lender, but usually they wont Repo a car unless you are 3 months delinquent.

If the bill is 20 years old I don't think they have a valid claim. I think ( could be wrong here) but there is a 5 year limit to collect. I would contact a lawyer with this question.

Please don't try to wiggle out of your responsibity. She did this as a favor to you and now you want to stick her with the responsibility because the "paperwork" says so?? You have a moral and ethical obligation to take care of this...you gave your word. Man up!

The shortest way out of this fix is to get the car, pay your dues, and continue to make payments. This will cause the least problems in the long run, since these things take on a life of their own if not attended to. You could end up being out more money, having wages garnished and lousy credit. If you must give up your car, talk to your lender and return the car to the place where you bought it. Tough, but you will be doing the right thing.

I wouldn't see why not. well i think that yes!!!!!! a friend could buy you a car but maybe because he likes u or something like that.

As the owner of a "tote the note" used car lot for 20 years I know of no effective way of prosecuting "skips". People occasionally move to other states with mortgaged autos and if there is statute forbidding it, I am not aware of it. Generally, the only remedy for the lienholder is to repossess the vehicle.

A nerve block usually means that someone was given a drug to block the pain in an area. I would assume that a nerve block might thus mean numbness due to nerve damage. Nerve Damage is neuropathy. The myelin sheath of the nerve has been damaged and thus you get numbness, tingling and pain. The body needs B1 in order to be able to repair the damage to the nerve. There can be many reasons for this damage - diabetes high blood sugar, chemotherapy, trauma, lack of B12, etc. However, most supplements that you buy is water soluable and thus washes out of your body before it can be used. It is becoming known that certain forms of B vitamins are fat soluable and thus the body can hold onto it long enough to use it. In addition, B12 and some other ingredients will help in the repair. There is a formula that does this called the Nerve Support Formula - www.realfoodnutrients.com/neu/home.htm

You will receive notices that your payments have not been received, making your auto subject to repossession, but you will not receive a date and time of the repossession.