OO Posted April 26, 2005 Report Posted April 26, 2005 I am currently looking to purchase the home that I am renting, history over the last 3 years has been perfect. Right now the finance company for my vehicle is looking to reposes it, do I need to just give it up or should I try to hold them off and see if I can get approved for the loan.
firstsource Posted April 26, 2005 Report Posted April 26, 2005 I would highly suggest that you make a payment plan arrangement, so that it does not hurt your credit, plus most lenders will make you pay a recent collection account like that before you get your home loan funded.Charles
OO Posted April 26, 2005 Author Report Posted April 26, 2005 If they are already looking for the car does that really matter? I guess a lot of lates is better then a repo. The car is a lemon and I do not want it. Do you think I could avoid the repo and try and get the loan closed in the next 30 so it just shows late on the report and not a repo collection?
firstsource Posted April 27, 2005 Report Posted April 27, 2005 Yes, it would be a lot better to handle it that way. What happened when you tried going the "Lemon" route? Just wondering how that works.Charles
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