Defaulted On Car Loan Credit Union Collected From Loan Default Insurance Company, Who Has Car Title?
Question by glovett98 | Posted in Insurance & Registration
Defaulted on car loan, credit union paid off by loan default insurance; who has the title to the car?
Answer: The person or institution that paid off the loan when you defaulted, ie, the insurance company, who will sell the car at auction and bill you for any outstanding balance when they do.
You will also have a repossession on your credit report for the next 7 years.
Reclaiming Loan/credit Card Insurance, Has Anyone Done This?
Question by tomkat x | Posted in Credit
We have been advised to reclaim on the insurance policy we took out with a personal loan, we were told when we applied for the loan that we had to take the insurance or we wouldnt get the loan. Has anyone reclaimed and if so was it the full amount of insurance paid and how long did it take. Thank you.
Answer: My daughter was quoted for loan insurance when she took out her mortgage, but found a much cheaper option elsewhere. You could always cancel that insurance to replace it with something better for you, but I have no experience of claiming back insurance payments already made.
How Do I Remove Gap Insurance Or Credit It To My Loan?
Question by fish | Posted in Insurance
I bought a use truck less then 10 days ago and Gap insurance was added to the loan $875. at dealer My finance company does not require it. Or my insurance Can this be removed and credited to my loan and how?
Answer: You have to discuss this with the dealer. If you just "changed your mind", then even if it gets removed, you're not going to get any money back. If your sales agreement has the box "waived" checked next to gap, then you CAN get a refund, but you have to discuss this and work it out with the DEALER.
Buying A Car.. What Is Buyers Order? Proof Of Insurance? Auto Loan From Credit Union?
Question by hannn r | Posted in Insurance & Registration
Hello,
I went to get an auto loan from a local credit union and got the pre-approval from them..
But they told us that to get the actual loan check, we would need to bring the followings:
-signed buyers order
-proof of insurance
-proof of income (copy of paystubs)
We forgot to ask what buyers order is before we walked out.. Does anyone know what it means? Is it something I get from the dealer?
Proof of insurance - Isn't it something you get AFTER you actually get the car? Do I just go ahead and buy an insurance policy? Am I bound to pay the insurance if I end up not getting the car I registered for insurance?
Answer: A buyers order is basically your purchase contract. It has the info on the auto you want to buy (model,VIN, and any other related info).
Proof of insurance is easier than you think. Call your insurance company and tell them that you need insurance on that specific vehicle (of course matching the VIN in the buyers contract). Then ask them to fax over a copy of it to the credit union ASAP.
If it turns out you cannot get the loan, just call them back and tell them the situation.
Can A Credit Union Force Car Insurance On An Auto Loan After Financing Has Already Been Established?
Question by Cito | Posted in Credit
They tacked on an additional @$2700 onto my loan and since that time my car payment went from $350 a month to $700 a month. Before this happened, my credit was good, and since after that time my credit changed drastically. I've been told that this may be illegal. If anyone has info, please let me know. Oh, and this is in CALIFORNIA.
Thanks!
Answer: If you let the full coverage insurance drop on your vehicle? They do have the right to do this it's called "Forced place insurance" the auto loan companies have been doing this for years.
The only way to get it removed is to get your own insurance and then prove to your credit union that you have insured the vehicle.
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How To Avoid Mortgage Insurance? | mortgage credit insurance
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There is several mortgage-related insurance—mortgage protection insurance and private mortgage insurance (PMIs), to name a few. ” Mortgage insurance is therefore an insurance coverage that is required on the mortgage of a borrower who is putting less than a 20% down payment toward the purchasing price of a home. Another way to side step the extra expense is by taking out a second loan, sometimes called a piggyback loan or second mortgage that closes simultaneously with the first mortgage. The second loan can normally be a home equity loan or a home equity line of credit provided by the lender or lending institution....
In contrast, FHA loans historically have been available to help low and moderate-income families buy homes. FHA borrowers typically need a credit score of at least 620 and a 3.5% down payment. The FHA charges an upfront mortgage insurance premium of
FHA programs are not a loan, but an insurance on a loan by lenders from the Federal Housing Authority. The program helps people who have lower credit rating scores or less money to put down on home purchases. Another popular attribute of the FHA loan
The Bond Commission agreed without objection to allow the insurer to establish the credit for a bank loan in case of a catastrophic event where the company would need millions more to pay claims. "The line of credit will just be authorized.
CO-OPs have member-based boards and are meant to offer member-friendly, affordable health insurance options to individuals and small businesses. Using low-interest and no-interest loans from the US Department of Health and Human Services (HHS),
By Nancy Lindsay A Credit Default Swap (CDS) is insurance on loans to insure the lender of payment if default occurs, it's called hedging, and on Wall Street, they're easy to buy. First, the companies take out a loan from the bank, then the banks who
In contrast, FHA loans historically have been available to help low and moderate-income families buy homes. FHA borrowers typically need a 
The Bond Commission agreed without objection to allow the insurer to establish the credit for a bank loan in case of a catastrophic event where the company would need millions more to pay claims. "The line of credit will just be authorized.