Low rates boost loan activity Toledo Blade
With mortgage rates at record lows, Marty Sutter would like for more customers to refinance their home loans at Genoa Bank. Unfortunately, he said, it's difficult to find homeowners who qualify.
Mr. Sutter, president of the Genoa-based bank, said 99 percent of his mortgage customers are current on their loans and make timely payments. But the recession has left many with lower incomes and depleted home values, making them ineligible for refinancing that could lower their interest rate.
"We're trying," said Mr. Sutter, who expects Genoa Bank's mortgage business to decline 68 percent this year compared with five years ago. "We want to approve people, but values and job times and employment are having a significant impact."
The average rate for 30-year fixed-rate loans was 4.32 percent nationally last week, and the average for a 15-year fixed-rate was 3.5 percent, according to mortgage provider Freddie Mac.
Frank Nothaft, vice president and chief economist for the government-controlled firm, said the 30-year rate is the lowest this year, and the 15-year rate is the lowest since Freddie Mac began releasing weekly rate reports 20 years ago.
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Does anyone know a good company for auto refinance w/bad credit?
Need help weeding through the sea of bullsh** ads for a good company to refinance my car. Credit is not so great. Does anyone know a good company?
It depends on what you mean by bad credit. Just your credit score? Do you have collections? Bankruptcy? There are things that lenders take into account other than credit score.
But sadly, in this market, the lenders are tightening up and not giving good deals to those applications with "bad credit."
With that being said, I'd try HSBC and Americredit. If you want to hit a lot lenders at once, try a refinance company like LendingTree or eLoans.
I need to auto refinance with bad credit?
i need help! i have a credit score of 570 and have an interest rate on my car of 17%. I want to refinance my car, ive been paying on time and want to get a lower APR. What is the best possible way to do this? and How can i get a lower APR with my credit score? Please help!
A lower rate than 17% with a score of 570 may be tough-- and you dont know what bureau they will go for, and I'm assuming 570 is your HIGH score? You have 3.
Your first option is to call up the original loan company and ask if they can lower your rate with a refi since you've paid on time-- thats your best bet.
It could hurt your credit score, though-- its better to have the same accounts for long term than to be opening/closing them.
Is there a way to refinance an auto loan with bad credit? any company that is likely to help??
I have an auto loan that has just over 12,000 left due and I would like to refinance but have bad credit...is there a company that will refinace even if you have bad credit???
my current interest rate is 12.75%.....will it go up really high if i refinance?
You CAN get a decent car loan, even with bad credit. I've done it, but you'll have to look around. That's one of the BIG mistakes people make...just taking the first offer that's given to them when they go to the dealer. Be smarter than that.
WARNING: DON'T GO TO BUY A CAR WITHOUT HAVING THE LOAN FIRST. The auto dealers will eat you alive and give you a crappy rate. Shop around with lenders who specialize in bad credit car loans. It's a better option, you don't have to take what they're offering if you don't want it, and it's better than dealing with the car dealer's people.
There are usually some nationally based car loan companies who specialize in bad credit car loans who advertise on the page linked below...
http://www.axalda.info/bad-credit-car-loans.html
Americredit, and Drive Financial.
Good luck !
Whats a good AUto company to refinance with Bad credit?
6 months ago i refinanced a truck under my name only for my sister and im struggling every month with her to give me payments i dont want to mess up my credit so i want to refinance under her name and she had bad credit and i already tried capitol one but they denied her...what else can i do ...any info ...i know it was a bad decision on my part ....
If she is not paying you as agreed then maybe you need to make some hard decisions. I don't think you will have any luck refinancing the car in her name so here are some options. Have her take the car to a dealership to trade it in where they advertise for secondary financing. She will need some money down which you may need to help with in order to get yourself out from under this thing. Another option is to sell the car for what you can get out of it. You did a favor that is not being fulfilled & now it sounds like your credit is affected. Take charge of the situation.
http://www.leaseguide.com/Articles/bad-credit.htm
Bad Credit Auto Refinance?
I got myself into a really bad situation...bought a car in August 06 and financed it directly through the dealership. I was told they'd send me my payment book, to go home and wait on the details of the loan to be worked out but that my monthly payment would be no more than $100 what I was paying for the car I traded in. I waited, and waited. December rolls around, they threaten to come repossess the car because I had not paid...yet they had never sent me an invoice. I go in, the rude guy shoves a bunch of papers in front of me...I found out I had been driving on illegal tags. The deal didn't get complete until December and at that point I finally sign a sales contract, only it happened so fast I didn't know what I had gotten myself into. I just didn't want them to take my car. Anyway the dealership has me financed at 20.400% interest. I have paid that for 18 months, never missing a payment. They are not reporting to the credit companies.
Someone also made a mistake in the invoices they were sending me for the last year and a half (that is WHEN they actually sent invoices). So they apparantly did not factor in the interest. It has added an additional $5000 something to what I thought I owed on the car itself. Because they are not reporting it to the credit companies, I am not getting my credit built up. I desperately want out from under this dealership. They have done nothing but screwed me over since day one. There are more bad things they have done but I could go on and on with it. Simply put, I cannot afford $436.25 a month car payment anymore. When I bought the car, I was told they'd report it and I could get it refinanced within a year or two. Well that time has come and my life situation has changed...I am newly married among other things. What can I do? How could I possibly get it refinanced?
I tried to request it be reported to my credit reports, as a consumer and was told I cannot do that. That the lender must open an account with the companies, TransUnion, Equifax, Experian. I have really been screwed over BIG TIME! The woman who handles the paperwork at the dealership said these companies told her I had to request it to be added, but we know this is not true!
I have no co-signer and to make matters worse they have applied at least 3/4 of every payment to the INTEREST so I owe more than the car is worth towards the principal at this time.
Not really sure there is a question in there... You can't be upset about the interest or the payment amount since you voluntarily signed all the paperwork... And after waiting for 4 months... when the average customer would of course phone the dealership after 2-3 weeks...
Throughout all your rambling story, the only thing I can gather is "Lesson learned!" ... and be thankful the dealership DIDN'T come get their car!
Auto Refinance With Bad Credit?
I got myself into a really bad situation...bought a car in August 06 and financed it directly through the dealership. I was told they'd send me my payment book, to go home and wait on the details of the loan to be worked out but that my monthly payment would be no more than $100 what I was paying for the car I traded in. I waited, and waited. December rolls around, they threaten to come repossess the car because I had not paid...yet they had never sent me an invoice. I go in, the rude guy shoves a bunch of papers in front of me...I found out I had been driving on illegal tags. The deal didn't get complete until December and at that point I finally sign a sales contract, only it happened so fast I didn't know what I had gotten myself into. I just didn't want them to take my car. Anyway the dealership has me financed at 20.400% interest. I have paid that for 18 months, never missing a payment. They are not reporting to the credit companies.
Someone also made a mistake in the invoices they were sending me for the last year and a half (that is WHEN they actually sent invoices). So they apparantly did not factor in the interest. It has added an additional $5000 something to what I thought I owed on the car itself. Because they are not reporting it to the credit companies, I am not getting my credit built up. I desperately want out from under this dealership. They have done nothing but screwed me over since day one. There are more bad things they have done but I could go on and on with it. Simply put, I cannot afford $436.25 a month car payment anymore. When I bought the car, I was told they'd report it and I could get it refinanced within a year or two. Well that time has come and my life situation has changed...I am newly married among other things. What can I do? How could I possibly get it refinanced?
I tried to request it be reported to my credit reports, as a consumer and was told I cannot do that. That the lender must open an account with the companies, TransUnion, Equifax, Experian. I have really been screwed over BIG TIME! The woman who handles the paperwork at the dealership said these companies told her I had to request it to be added, but we know this is not true!
I have no co-signer and to make matters worse they have applied at least 3/4 of every payment to the INTEREST so I owe more than the car is worth towards the principal at this time.
I did wait because I was waiting on my payment book as the damn man told me I'd be getting. The sale was never complete until December 06. At that point what was I supposed to do? Give the car back (which I didn't know I could do) and have no vehicle, they had already sold my trade in!
Whatever sales contract you signed in December (now 5 months) is what you are stuck with. I would imagine with that interest rate, your credit is bad enough (and you owe more than the vehicle is worth) that no one will be interested in allowing you to refinance.
refinance auto asap bad credit need help now please find?
about to loose car .Need assistance soon overnight would be great is there someone out there.draw SS disability . donot make very much.
I did that before when I lost my job and that help me a bunch on that time, but works only if your credit is not damaged yet, then you can cut your payments and also most of the times can get a month of grace period for your next payment.
does anyone know any good auto refinance companies that help even with bad credit?
my car payment is just to high and i struggle making my payments. I do not have good credit either because i made some poor choices at my young age so its important for me to to honor my car payments. Its just getting ard and im slowly falling behind and would like to know if anyone knows anyone who can help me right away.
try a credit union, they have some good rates
Refinancing an Auto Loan with bad credit?
Can I refinance my car loan with bad credit? I am currently in a debt settlement program have many charge offs on my report at the current time. I was wondering if there is any way to refinance this to make the payment lower with bad credit?
Have a look for article : Bad Credit Auto Loan Refinance - Bad Credit Auto Refinance Tips
http://loan-refinance.nuggz.org/
can someone with bad credit get auto refinancing w/o a co-signer?
im stuck and i dont know what to do.
yes. try capital one auto finance. They will loan w/o a co signer but you probably need a stable job and decent income 1500/month gross or more. Your interest rate will be higher but you can probably be approved.
www.capitaloneautofinance.com
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