Providing references when getting auto loan
Posted By: sm on 2008-05-15
In Reply to:
I have to buy a car and the finance company (Capital One) requires 10 references. I don't know this many people. Has anyone been in a similar situation...what did you do?
I have family, but do not want them to know that I am buying a car. Any advice?
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If your loan is an FHA-backed loan, you can contact the
to help you. Each state has one assigned to it by the FHA. I'm talking the FHA loans that are 5% down, sometimes bond money is available, etc. Not the one where payments are based on your income, etc.
Whatever you do, contact your mortgagor TODAY. Do NOT delay. Be realistic about what you can do financially to recover -- do not agree to terms you cannot realistically carry out.
You should have several options available to you before foreclosure is started. You might even try to do a quick sale of your home. You have until the very moment they auction that title off.
Try looking for information here:
http://articles.moneycentral.msn.com/Banking/HomeFinancing/FacingForeclosure9Options.aspx
http://www.hud.gov/foreclosure/index.cfm
http://www.hud.gov/offices/hsg/sfh/nsc/reliefop.cfm
One thing I do is I have an auto money transfer - sm
set up from our checking account, it takes out $50 a week and transfers it over to savings. Granted I use it when I have to but have about $1500 over there now that way. We also have money taken out of my DHs check before we see it and it goes into the 401K, we save over $11K a year that way and we are not maxed out at 15% as yet. We are pretty cash poor but have a great retirement fund so in 20+ years we won't starve at least.
I was wondering why they need references
A skunk smells it's own hole first as the old saying goes. 
My auto clock fell back too, just had to adjust it...
make sure to check yours again next Sunday morning. The auto clocks are on the previously scheduled time change rotation, not the new one (my clock is 2 years old). the newer ones should be on the right schedule.
it isn't your child - leave your references to
r and ending in e to yourself. What an absurb comparison and shows that you are a person who looks through single-vision glasses. How negative of you to be so belittling of someone else. This whole thread is getting out of hand with very little logical thinking to be found. Lots of opinions, but every has one of those and some stink worse than others!
Great website references
Thanks so much! I saw the wrap on someone about a year ago and have been looking at all the stores to try to find them. I see similar items but not exactly the one that is adjustable and this is exactly what I saw.
Does anyone know of any chatrooms or message boards providing support for caregivers? sm
I am currently caring for my husband who is suffering from a rare form of dementia and would love to find an online support network. Thanks for any suggestions.
A baked yam or sweet potato is supposed to have the same effect, providing you don't
s
Why can't you take the loan for the 50% they -
offered and then payback immediately what you don't need? As long as there is no payback early penalty that is how I would get around that problem, that is if I am reading and understanding this right.
we just had to ask our in-laws for $500 loan
they're like a bank to us ;)
we just had to ask our in-laws for $500 loan
they're like a bank to us ;)
we just had to ask our in-laws for $500 loan
they're like a bank to us ;)
No, they wont LOAN us the 50% (sm)
Not a single bank wanted to loan us the money unless we paid all kinds of points and had a ridiculous interest rate - and only 1 out of 10 said they would do that. The others turned us down flat.
I guarantee if I had half a dozen kids and was on some kind of government assistance we would qualify.
We will keep on keeping on, and hopefully something will change for the better.
thanks everyone for your responses.
FHA loan might work for you
Your credit score can be lower than for a conventional loan and you can get into the house with a down payment of only 3.5%. But I don't believe you can have BAD credit--more like fair. If you have anything unpaid (old bad debt, etc.), then they'll make you take care of those before they give you a loan.
Telling you the appraisal from 3 years ago isn't right, and he knows it. Valuations are down practically everywhere and, depending on your region, could be down substantially. And this business of getting his friend to appraise the house is shady, too. You sure this guy is a good guy?
Lots of people got into big trouble by buying a house before they were ready financially to do so. Tread carefully.
Has anyone had experience with a consolidation loan?
gg
Stated Income Home Loan
I am a self-employed IC and have purchased 4 homes in 4 different states as a single person. I was able to obtain a Stated Income Mortgage based on my credit, rather than my W2. No tax info was used, needed or requested. I guess, if your income is needed along with your husband's to qualify for a loan, then you would need the W2 info. But as a single person you can obtain a home loan based on your credit and not your tax info. Also, if you don't have enough for a down payment, you can take out a "second" against the house you are purchasing to finance your downpayment. You will have a short-term payment for the downpayment and your 30 yr note on the home. I was also able to obtain very low interest rates based on my credit rating.
Good luck, I did have to provide extra documents when I purchased one home with my exhusband.
Have you considered a home equity loan to
pay off all your credit cards?
I could loan you my husband for a week. I'm not frugal,
mm
single wide are only kind to depreciate; hard to get loan
nm
Guess he can take out a loan for future schooling! Son found a phone
s
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