Is it possible to refinance after you get a loan modification?

August 29th, 2010 by Bank Loan | 1 Comment | Filed in Loans
Loan
by Fauxaddress – Edward

Question by Sally: Is it possible to refinance after you get a loan modification?
I recently got a loan modification and it is going great. However, I am interested in refinancing to include my home equity loan. Is that possible or can you not refinance once you have gotten a loan modification.

Best answer:

Answer by foreclosurefish_com
It is most likely up to your primary lien holder or mortgage holder. If you are looking to consolidate your home equity loan into one payment you will need to apply for refinance. Depending on how long ago your loan was modified and what kind of credit you have, you may be able to refinance the property into one consolidated payment. You can contact your lender directly with borrower authorization and have someone walk you through your current options at your bank.

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Is it possible to get a loan for a used car that doesn’t require full coverage insurance?

August 7th, 2010 by Bank Loan | 7 Comments | Filed in Loans

Question by Nick P: Is it possible to get a loan for a used car that doesn’t require full coverage insurance?
I know it’s a gamble to get a car with a loan and not have full coverage insurance, but I don’t really believe in having full coverage insurance. I think that the money spent on it over time, given my driving record, will be more in full coverage than it would be to have myself (I do my own vehicle repairs) fix something if and when it happens.

Is it possible to get a loan without full coverage?

Thanks in advance!!!

Best answer:

Answer by Zane born 11-25-08
No. It is too much of a risk to the lender. If you total the car, the insurance money goes straight to the lender which is the lienholder, otherwise a lot of people would not continue to pay on a car that has been totalled out that they don’t have any more, and when u have a lien your insurance carrier normally will call your lien holder if and when u cancel your insurance.

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Do the banks that you get a loan from check with the insurance company on your coverage?

August 7th, 2010 by Bank Loan | 3 Comments | Filed in Loans

Question by **BLW**: Do the banks that you get a loan from check with the insurance company on your coverage?
When getting a loan on a newer used car, how does the bank know what kind of coverage you have frrom the insurance company?

Best answer:

Answer by JetDoc
Normally, the insurance company will provide a copy of the policy to the registered lien-holder of the vehicle.

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LendingTree.com Shares How Refinancing Your Auto Loan Can Save You Money

July 10th, 2010 by Bank Loan | No Comments | Filed in Loans

People usually do not think twice about refinancing a home loan to save money. But fewer people think to refinance their auto loan if they’re unhappy with it.

Charlotte, NC (PRWEB) February 8, 2007 — People usually do not think twice about refinancing a home loan to save money. But fewer people think to 0refinance their auto loanif they’re unhappy with it.

An auto refinance loan – just like a mortgage refinance – can end up saving you money by possibly providing you a better interest rate and lower monthly payments. Most people end up financing their auto loan through the dealership. While convenient for buyers who don’t want to have to delay their purchase, keep in mind that car dealers don’t always offer the best financing deals.

When an auto loan is refinanced, it simply means that a new lender pays off the old loan. The title is then transferred to the new lender and your payments are made to that new lender. Sounds simple, right?

LendingTree.com offers up the following advice on how to refinance an auto loan:

To refinance an auto loan:
1. Research lenders who can provide you with the best auto refinance loan. A web site like ww.LendingTree.comcan give you access to offers from several lenders and save you the time and legwork of having to contact various lenders yourself.

2. Provide the lender who gives you the best nterest ratewith all of the financial information they’ll need to qualify you for the refinance loan.

3. Pay any fees that may be associated with the refinance loan. These may include nominal lien holder or pre-payment fees.

4. Once you’re approved, your new lender will pay off your old loan and assume the car’s title.

For more information about refinancing your auto loan, please visit the endingTree.com Smart Borrower Center

About LendingTree, LLC
LendingTree, LLC is the nation’s number one online lending exchange, providing a marketplace that connects consumers with multiple lenders that compete for their business. Since inception, LendingTree has facilitated more than 20 million loan requests and 2 billion in closed loan transactions. LendingTree provides access to mortgages and refinance loans, home equity loans/llines of credit, auto loans, personal loans, and credit cards via ww.lendingtree.comand 800-555-TREE.

Launched in 1998 with headquarters in Charlotte, North Carolina, LendingTree, LLC is part of IAC Financial Services and Real Estate, an operating business of IAC/InterActiveCorp (NASDAQ: IACI), which also owns or operates LendingTree Loans, LendingTree Settlement Services, LLC, RealEstate.com®, Domania®, and iNest®.

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