If you can simply take over payments on a vehicle loan, why can't you just take over payments on a mortgage?
104975
When you take over the payments on  car loan the term is usually just 2-5 years and the amount is relatively small. If you wanted to take over the payments on a house there is usually 15-30 years in the term and the amount is much greater. Most people want the equity - value they have already invested in the house by making a down payment and monthly payments- back out when they sell a house. The bank is also much more cautious about allowing a loan with such a big balance transfer to someone without going through the credit checking paperwork and being sure that the new owner will be reliable.\n\nAlso, most real estate appreciates while most automobiles depreciate so simply taking over a car loan still allows the bank to get a return on their investment. The bank would loose the appreciation value if they allowed a loan to be taken over for a house.\n\nIt's not impossible, but it is not common. A bank might allow it if the term was lengthened to account for appreciation or if the interest rate was adjusted to allow for the same thing. I hope that makes sense.
577009
just pay the amount of the payment\nno one says you have to pay the whole thing at once
549740
You can,but how are you going to pay the bills is the problem. Your on a fixed income and credit would be your ruin.
869937
They probably don't want to go through the cost of taking your car back, so continue to insist on working out a payment plan with them.  Ask for the supervisor, and whatever you are able to agree on, get it in writing.  If you can't get anywhere with them, however, I would consider getting an attorney or nonprofit debt counselor involved who can negotiate for you.  Daily phone calls are harrassing and can be illegal.
441531
I think what you mean is: how do you accelerate the payments on an existing mortgage?  Basically, you just make extra payments.  If you make one extra payment per year, you can end up paying off a 30-year mortgage in significantly less time (say 5-7 years less).  The reason is that anything you pay in excess of your monthly payment is applied solely to the principal of the loan.  There are various ways to set up accelarated payment schedules for yourself.  One way is to simply double your payment one month per year.  Another is to divide your monthly mortgage amount in half and pay that amount every two weeks.  This will result in roughly one extra monthly payment per year.  Or, just increase each monthly payment by 1/12th.  Whatever works for your budget.\n\nYahoo has a calculator that shows you how much you will save and how much you will reduce the length of your mortgage by making extra payments: http://partners.leadfusion.com/tools/yahoo_loan/home16/tool.fcs
339953
Call a random mortgage company and ask them this question.
688066
Bank when take guarantee take standard guarantees which is joint and several guarantee. So they must be legally on firm ground to do that. They have filed the case since for getting amount appropriated against loan. I would suggest that tell court that you are fine with paying out loan and bargain for simple interest instead of compound interest. This will save you from all legal costs and waste of time.
305607
No. Thats one of those things you are supposed to look at before signing on the dotted line. You can call the company (after making a good 6 months of payments) and re-negotiate your interest rate. Until that happens you are stuck unless you want to get a loan from an outside company with a lower interest rate and just pay the car off now but depending on how much your income is and your debt (including this car loan) you may or may not be approved. The current car loan can make your debt/net ratio be too high. You can also make payments to the principal only which I suggest to pay the car off quicker.
629296
if you are getting a personal loan , yes you can use your car as collateral , providing the car is yours and doesn't already have a lien on it ( is paid for )
963807
You would probably be able to get a secured loan if you are able to provide collateral such as a car title.
208907
You should contact whoever has your loan and work it out. Maybe they'll let you pay it in installments so you can catch up.  Don't ignore it or it may go into collection and your car might get repossesed.
582023
The advantage of taking out a loan is that you keep whatever savings or capital that you may have intact, for other investment purposes. This is particularly good, at a time when interest rates are low, so you pay very little for what you borrow and stand to make more by investing your savings in stocks, bonds, commodities etc.\n\nThis is however not a good strategy when interest rates go up, or, if you are taking finance at a high interest rate or over a very long term, because it is unlikely that investments would ever make up for the amount that you are paying in interest or fees.\n\nFor example, remortgaging a house to release equity which is then used to purchase say a car. A £20,000 car paid for in this way, using say a 25 year re-mortgage, could cost £50,000 in the end AND, assuming that a car only last for 10 years, you would have to continue paying for the car 15 years after it has gone to the knacker's yard. This is a very expensive use of money indeed!\n\nIn the UK, currently, a significant amount of personal debt is financed at high-ish interest rates. This makes the finance companies a lot of money but causes significant losses to the individual borrowing the money.
201721
NO, you do not have to pay they are just saying that because they want the money however, if you want the car back you'll have to. Just let'em eat it, its part of the towing business. There are no laws requiring you to have to pay.
525768
If you are both on the title and the vehicle is being paid for he can't repo your car.  If the payments are behind on the car and he is a co-signer he can have the car sequestered from you.  More importantly, if you are behind on payments and the finance company is after it, you'd better give it up.  Its called a Writ of Sequestration, a constable comes and gets it and if you don't turn it over you get to go tell a judge why your not giving it up.
217256
need more information to answer your question, I am a mortgage broker, just e-mail me with more specific information and I will try to help you with you question
200502
We can't, I think that is the idea.\n\nI love the fact that my parents will work their entire life to buy and finally pay off their house, and when they die I (and by 'I', I mean me and my siblings) won't be able to keep what is rightfully ours. We are gonna have to sell the house to pay the government for something that is not theirs and is nothing to do with them. \n\nThis government is incompetent.\n\nIt's hard enough to get on the property ladder as it is!
1069569
Sure, especially if you have no prepayment penalty on your mortgage.  Say that someone passes away and you get a decent sized inheritance, you can certainly use that money to pay off the mortgage.  Or, if you are trying to do it oin your own, if you paid in a lot of extra money every month, you could pay it off in 5 years.