I have a current car loans out for a small under 3000. My monthly payments are 250 a month. My jeep is in fact worth about 13000. What I’m wonder is if its possible to refinance for a larger about lets say 5000.00 I take the 2000.00. Keep in mind that my credit isn’t where it needs to be but I’m working on it and that’s what this refinancing loan would be for.
My friend’s mom died and she still owes money on the house they lived in. My friend doesn’t have a job because she quit to help her mom. She has money to pay the monthly mortgage payments (she’s eventually going to sell the house) but her lawyer told her not tell the bank her mom has passed because they can question for the whole loan to be due. She doesn’t want to pay for the house out right because she’s eventually going to sell it. Has anyone heard of this happening? Anyone have any thoughts on what she should do?
My husband and I both have exceptional credit (all 3 scores for both are above 780), and even with an ARM 5/1 loan our payments for even a 145K loan are more than $1000 a month. I see adds for loans for less and just wondered how they do this?
I know the disadvantages to an ARM loan. We will probably go that route anyway because we plot on only staying for a couple years.
or reduce just monthly payments which will result my terms be extended? I don’t know how refinancing works. Currently my payment is $457/ month and 48 months left. I’m interested in refinancing my car, but don’t want to do so if it just reduce my monthly payments and term is extended. What if I have my car refinanced, what will happen? Is monthly payment gonna be lowered with the same term(in my case 48months)? or monthly payment stays the same and conditions gonna be shortened? I’m sorry if I’m not building significance… somebody help me~
Current loan: fixed at 6.25% 30 years. Credit rating: honest. I want to lower my monthly payments. I know the longer span will result in more interest paid, but I need cash flow… I don’t want to need to borrow money.