iluvthedusk

Just thought I would share my information to give someone that may be in my situation encouragement. Long story short, 10 years ago I brought a car that died on me last year. Great car but with 220K+ miles on it,it could no longer handle my one-hour each way commute. I was without a car (borrowing from family all this time) until last week. My bankrutpcy was discharged on 6/18/13. I applied through roadloans and capital one blank check online the next day. Denied with Capital One. Approved with roadloans. 16% interest - ouch! But I was fresh out of bankruptcy. Roadloans offered me 3 options - all wit the same interest rate. Different down payment amounts. I took my paperwork to a roadloans "certified" Mitsubishi dealer. I looked through it with a fine tooth comb and had gathered up every ounce of paperwork I saw they required for their loans. Once I got to the dealer, the finance manager set out to approve me with another lender. In the end - after hours at the dealership - I got approved with Capital One Auto with my husband as the cosigner. Interest rate 15%. Keep in mind, my husband and I filed bankruptcy together. He also has a car loan with Capital One and claimed a credit card through them with a small balance in the bankruptcy. I didn't see how he would be able to cosign, but the finance manager said my app needed him for the additional income moreso than the credit. In the end, I drove off the lot with a 2011 Galant. $330 payment for 60 months. I have no intentions on keeping the car that long. They offered a new car but the payments would have been a way too high for our budget. I put $1,000 down. In my opinion, they didn't even consider the roadloans app. I was told that I could use my roadloans approval but only as a last resort! The finance guy told me that almost always he can find something better. My advice - and this is just my advice - try with roadloans and if it can't be matched at least you have that to fall back on. So happy with my car and with my payments. I will definitely refinance though. Hopefully in a year.

Thank you Brian. This is what I needed to know! Sent from my SAMSUNG-SGH-I747 using Tapatalk 2

Long story short, in 2007 we purchased a home in my name only. At the time my spouse had too much debt and it was better they not be listed as a borrower on the loan. Name is; however, on the title. Fast forward to 6 years later and unfortunately the home is in foreclosure. Will his name being on the title/deed on a home that's foreclosed on be a problem if we were to try and purchase a new home in a couple of years in his name only? Please any feedback would be appreciated. We are trying to decide if it makes more sense to try and get this home modified (tried 3 times before with limited success) or just let it go and plan to purchase again after we save for a couple of years in his name. HELP. Thanks!

You are gathering correct luckydriver. This attorney has been the absolute pits. Horrible personality. Never ever likes to speak with you directly. Most communication is via his paralegal. And he never once told us it would cost extra money to have him negotiate a modification for us. If I were to pay an attorney in order to modify the loan, it surely wouldn't be him. I'm just wondering if it's worth it or should I just let the house go. With a year of the mortgage not being paid, I don't know how much longer we have to save. This has turned into a huge mess.

I'm sure this issue has been addressed on this board numerous times. I'm posting because I have a specific question regarding the timeline. Spouse and I filed Ch. 7 BK last month. Our 341 meeting is scheduled for this Friday. Mortgage hasn't been paid in exactly one year. It originally fell behind going back and forth with the bank (Nationstar) regarding a modification that they approved, then didn't, back and forth for months. When we originally met with our attorney, we advised him that our #1 priority was keeping the home. We are underwater with the house, but we have always been worried that if we let this house go, that it will be a long time if ever that we can buy a new one. In any case, our attorney advised us last week that he can work on a loan modification for us at an additional cost of $2500. This in addition to the $3,000 fee we paid him to file the BK. We were never informed that there would be additional (and hefty) charges for him to work on a modification for us. All along he's advised that he will see if they will modify the loan and if not, to then let it foreclose. Had I known it would have cost us additional money to the tune of $2500 to modify the loan, I might have just let him work on that alone and pursued the BK later. In any case, now we are rethinking our plans after speaking with a couple of family members. The mortgage hasn't been paid in a year. About how long before will it be before were fully foreclosed on and basically put out of our home at this point? I live in NJ if that helps. And is there an exact timeframe that you are required to wait before you can purchase again or is there no set time? We fully plan to restore our credit and save to buy again. I just don't want to be stuck renting for years and years if we let the house go. At this point, our attorney told us that we basically have to fend for ourselves with Nationstar or pay him $2500 to work on a modification. Please, please, please - any advice/knowledge would be well appreciated.

congrats and best wishes in your new home. What a Happy New Year!!!!

Happy New Year all!!!

Congratulations!! Now that's a Merry Christmas!!

I have no advice to offer you guys, just support. I know how it feels to continually be let down and disappointed in the home buying process. Keep on tops of things and try to remain optimistic. You are not being punished. Unfortunately, so many crazy things happen to people in the process of trying to get a mortgage. In the end, I'm sure it will all work out. Merry Christmas!

good job! congratulations

my auto insurance carrier (metlife) wouldn't insure us for homeowners because we live only two miles from the ocean. State Farm and Allstate gave me the best rates. In the end, we went with Allstate. You just gotta shop around.

I used to use my penny's card years ago to get food and other supplies when I was in college. That was many years ago. Just like you can use your Sears card in Kmart!!!

I didn't know what the acronym stood for either Shawnee since I'm not on the boards alot lately. Haven't tried a daily pull sinc TC gave me the boot. Who needs the hassle. I have 6 inqs on TU that I'm stuck with for a while I guess.

cold app for me. Just applied one day and was in fact, denied twice before they approved me.

wow. lates really do hurt!