once you are 90 days down they can start with a foreclosure.
Its usually 3 months when the bank starts the paperwork and harrassing you to make payments
They usually repossess when you miss two or three payments. They seldom repossess if you've just missed one.
If it is not specified in the contract then it is likely at the descretion of the lender.
Actually one, I have repossessed cars for BMW where there customer was three days late. it all depends on the states laws I have a website that may help you avoid having your car repossessed. www.stoptheREPOman DONT LET TTHE BANK TAKE YOUR CAR BACK!
A home can get repossessed in many ways, the most common reason is that they owner of the house has not payed the bank the loan that they took out so as to by the house, or that the person hasn't pay many bills so they take the equivalent of the unpaid bills.
Your car can be repossessed if you miss one payment. Not likely they would do that but it is possible.
Its usually 3 months when the bank starts the paperwork and harrassing you to make payments
The length of time that a car payment can be late without being repossessed will depend on the bank or car dealers agreements. Payments made after a month may be in jeopardy of being repossessed.
They usually repossess when you miss two or three payments. They seldom repossess if you've just missed one.
Typically a person is given three months or approximately 90 days to miss car payments before a car is subject to repossession. Usually the bank or credit union that issued the loan will call to try and arrange payments with the car owner.
If it is not specified in the contract then it is likely at the descretion of the lender.
Actually one, I have repossessed cars for BMW where there customer was three days late. it all depends on the states laws I have a website that may help you avoid having your car repossessed. www.stoptheREPOman DONT LET TTHE BANK TAKE YOUR CAR BACK!
A home can get repossessed in many ways, the most common reason is that they owner of the house has not payed the bank the loan that they took out so as to by the house, or that the person hasn't pay many bills so they take the equivalent of the unpaid bills.
three months
Maybe, by Fedral law your car can get repossessed if you are ONE DAY past due on your car payment. I know many repo agents and they have a saying "Support your local repo man-- miss two payments" I wouldn't hold off much longer to pay them. You should call them and try to get a deferment or two.
Depending on how many payments your behind. If you are behind a great margin I think they would to try to make back the money lost but if you're one or two payments behind they will give you a chance to catch up and if you fail to make any payments after they contact you they will sell.
There are many websites one may peruse to find repossessed houses for sale. Some of these websites include Bank Foreclosure Sale, House Buyer Network, and Bank Foreclosed Listings.