need to have car loan assumed - Realtors Marketing Tips, Talk, Webmasters Forum

Click Here to display our logo on your site and link to us!

You are not logged in. [Log In] Real Estate Forums » Forums » Real Estate » Mortgage Lending » need to have car loan assumed

Good Ideas

How To Advertise Here

More Good Ideas!

Facebook

Topic Options

Rate This Topic

#361531 - 12/22/10 03:06 PM need to have car loan assumed
Wealth Realty Veteran Member Registered: 06/04/07 Posts: 858 Loc: Pasadena	My client needs to get rid of his car loan in order to qualify for his loan. His girlfriend wants to assume it... Can anyone reccomend a reputable quick company that will approve this...her credit is of course not very good... They live together and have children together...she already makes the payments on it, but since its under his name the underwriter needs it removed... anyone? _________________________ www.WealthRealty.org Agents online use coupon code agentsonline for free listing access. For more information check out this thread http://www.agentsonline.net/forums/ubbth...html#Post370926
Top

#361540 - 12/22/10 05:00 PM Re: need to have car loan assumed [Re: Wealth Realty]
Sassy411 Member Registered: 11/30/10 Posts: 289 Loc: SoCal	Wouldn't the original lender have to agree to the assumption? Just like with a mortgage?
Top

#361622 - 12/23/10 12:16 PM Re: need to have car loan assumed [Re: Sassy411]
Wealth Realty Veteran Member Registered: 06/04/07 Posts: 858 Loc: Pasadena	the first thing i did was check with them, and they said that they would allow an assumption. I didnt want to go through them because her credit is not that great. _________________________ www.WealthRealty.org Agents online use coupon code agentsonline for free listing access. For more information check out this thread http://www.agentsonline.net/forums/ubbth...html#Post370926
Top

#361624 - 12/23/10 12:57 PM Re: need to have car loan assumed [Re: Wealth Realty]
Sassy411 Member Registered: 11/30/10 Posts: 289 Loc: SoCal	If the lender won't agree to it, I can't fathom how he could possibly get his name taken off the loan. And I can't imagine why the lender would agree to it. It doesn't make any sense. The only thing I think would work would be for him to refi the car & put her on title, but he's still going to be liable for the debt unless she just buys it from him using her own loan. Edited by Sassy411 (12/23/10 12:58 PM)
Top

#361633 - 12/23/10 02:37 PM Re: need to have car loan assumed [Re: Sassy411]
Vermont Major Contributor Registered: 04/12/08 Posts: 4726 Loc: Vermont's North-East Kingdom	Maybe he should keep the Car . . . . and she ought be the one buying a House ? I don't think you can get blood out of a stone. _________________________ Dale C. Hittle of GOLDEN RULE PROPERTIES in Glover, Vermont Where We're Always Striving To Put Together "THE FAIR DEAL"
Top

Previous Topic

Index

Next Topic

Hop to:

Google Custom Forum Search

This Google Custom search may do a better job of searching the forums for some keywords than the old forum search does. The results do not include threads from the Asset Managers Forum however. To search that forum you will need to be actually in the Asset Managers Forum and you will need to use the old forum search below.

Good Ideas!

How To Advertise Here