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In most cases, you should continue paying your loan payments to your current lender of record until you have been formally notified as to how and when to pay the new lender. If you skip any payments, you run the risk of incurring additional interest and payment penalties. When in doubt, contact your old and new lenders to confirm the payment switchover.
What else can I help you with?
How soon can you get a home loan after you have had a foreclosure?
Each lender is different. Contact the lender of your choice for that lender's policy.
What is loan boarding?
when a loan is been transfered fron bank to another. . .the bank which the loan is transfered to board the loan. .
If you are in Foreclosure with a Sheriff sale pending can the lender transfer your loan to a different lender?
In Texas they can.
When getting a lending company to loan some money, how hard is it to convince them to give a little more?
Every lender has different criteria. If you are not satisfied with the loan offer apply at a different lender.
How often will a lender of a car loan check your credit report if all payments are made on each month?
While you are meeting the terms of the loan contract and making all the payments required on time, the lender will not see that there is any problem with your loan.
Can you refinance your mortgage with a different lender?
Yes, you can refinance your mortgage with a different lender by applying for a new loan to pay off your existing mortgage.
If you cosign a 72 month car loan can you get your name removed from the loan if the primary makes on-time payments for 48 months?
Frank, that will be up to the LENDER. If you approach them right it might be possible. It will help if the debtor has NOT messed up their credit in the 48 month period. Call the lender and ask.
Can a payday lender sue you if you were not approved for the loan?
No. If you were not approved for the loan, no loan was made and therefore you don't have any responsibility to the lender.
Can you pay off your auto loan to the lender?
Yes when you pay off your auto loan the payment should be made to the lender. In fact all auto loan payments should be made to the lender who financed the loan.
What is a private loan lender?
A private loan lender is a lender that is acting on behalf of a privately owned organization or business, as opposed to a government regulated or non profit lender.
What are some items needed when going to apply at a commercial loan lender?
Some items that are needed when going to apply at a commercial loan lender are your loan application, and a resume. These items are essential when applying at a commercial loan lender.
Can you explain how collateral works for a loan?
Collateral for a loan is an asset that a borrower pledges to a lender as security for the loan. If the borrower fails to repay the loan, the lender can seize the collateral to recoup their losses. This reduces the lender's risk, making it easier for the borrower to obtain the loan.
