NLIC.org

Greg Said:

Home Re-finance question - Estimate of costs??

We Answered:

THE RIGHT ANSWER>
Get a second or #rd mortgage estimate.. Don’t be scare to play them against each other.
Frankly it sounds rather high.

They make there money on the percentage on the back end. Truly no Re-fi is a good idea unless you plan to keep your home for life.

Also; There are tones of online calculators that can help you figuring out the best possible scenario for you.

Irma Said:

The house we were told we were taking over title to is going into foreclosure, is there a way we can save it?

We Answered:

You can try and talk to the bank about this but what you and the OWNER were doing was not right because the bank should have been informed and agreed for the sale to take place with you to begin with. With your deal the bank could have declared their entire mortgage amount due and payable.

You can sue but likely get no money out of it.

You need to find another home and FAST at anytime you could be given 3 days to get out if the foreclosure goes through.

Leo Said:

Insurance Company totalling my damaged vehicle,,,good condition but rebuilt/salvage,,wat to do?

We Answered:

The fact that the car has a salvage title is going to hurt the value of the car.

Think of it this way: you have two cars - they are exactly the same in every way except one car is a rebuilt total loss (which is what a salvage title is). Would you pay the same amount for both cars?

No.

The salvage title could reduce the value of the car as much as 25%--50%.

Hopefully you got a pretty good discount on the car when you purchased it.

Also - insurance companies do not use Kelley Blue Book. If they use a book it is the National Automobile Dealers Association book (NADA).

They will take the value from the NADA and make adjustments for the cars condition and salvage (total loss) history.

Christian Said:

Can I insure a Car under My Insurance if I am not on the title?

We Answered:

No.

Her name is on the title - that means she is the legal owner of the car. You have no ownership in the car.

Therefore, you have to put the insurance policy in her name and list you as the driver.

You do realize -- that since your name is not on the title -- and you have no legal ownership of the car-- that if she wanted to take it away from you at any time - she can. Legally -it is her property and you have no claim of ownership.

Tammy Said:

REBUILT TITLE BUT GOOD CAR, SMASHED IN PARKING LOT,,,TOTALLING OUT,,help?

We Answered:

they are obviously going to give you less than the amount to fix it. it is hard to say exactly how much they will give you, but with it having a salvage title, i can guarantee it will not be much. all you can do is take their offer...you are pretty much screwed with a salvage title. maybe you can buy another junker and move the tires over to it, or sell them.