Thursday, July 29, 2010

Is there a bank that will do an auto loan for someone with mortgage currently delinquent?

high score is 540ish, middle score probably 450ish, mortgage currently due for may pmt. can get a cosigner with scores almost 800. will any bank do a car loan on this?Is there a bank that will do an auto loan for someone with mortgage currently delinquent?
jrofenloch, Get a free online auto loan quote. a good website The questionairre will let you know if you can be approved. It will only take a few minutes.





A site I've used...





http://auto.lowratetoday.com/





Hope that helps.Is there a bank that will do an auto loan for someone with mortgage currently delinquent?
Firstly Usdy N, your spam is being reported every time you post your creditcardpay blog fraudulent bullshitte





Sorry,To answer your question;





Given the current economic crisis the first question would be how can you expect to finance a car loan when you cannot pay your mortgage?





Most Banks will not accept co-signers anymore unless is it a close relative like a father or mother and they will usually ignore you and lend the money to the co-signer as the principle borrower, which in effect negates the co-signing.





frankly if you cannot support a mortgage then you will not support a car loan so NO , in short no bank , even those lenders of last resort is even going to want to know you.
In this day and age even with a cosigner I don't think you will get a loan. The first thing the loan officer is going to do is check credit history and see that your home loan is delinquent. Then they are going to ask themselves ';How will this person make a car payment when they can't pay for their home?'; In your situation a co-signer is irrelevant. They don't want to have to go after the cosigner if they don't have to, they want YOU to make the payment.
With the co-signer, possibly. Effectively, they will ignore you for purposes of approving the loan.
Why would anyone in their right mind cosign for you? Asking someone to do that for you when you are a proven dead beat is evil.
no


you have proven you do not pay back your loans


No one will want to loan to you
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