Why would a financial institution want a power of attorney for an auto loan instead of just a lein h

I am attempting to refinance a 2006 model auto with a different institution for a lower interest rate however, this institution wants a power of attorney over the vehicle. I've had hundreds of auto loans and have NEVER given a POA to the lending institution - so why now?

Why would a financial institution want a power of attorney for an auto loan instead of just a lein hold?

The POA will allow the lender to title the vehicle and execute all other documents necessary for transferring the loan from your current lender to themselves. It is actually saving you the trouble of personally signing all the documents.

It would also need this in the event that you default on the loan. Holding the lien is not enough - that only means they are owed money on the car.

This is a very common practice and should not worry you, assuming you have read the POA and it is limited in scope (to matters relating to the vehicle in question).

Why would a financial institution want a power of attorney for an auto loan instead of just a lein hold?

I think it is to make the title transfer process easier. Usually it is a temporary POA.

Why would a financial institution want a power of attorney for an auto loan instead of just a lein hold?

The POA is helpful when paperwork is not completed or incorrectly completed. If we have a POA we can fixed the paperwork without inconveniencing the customer. This also helps if theres two parties on the loan and one them are not be corporative. Which causes the title work to be held up. With the POA we can sign off for the customer and have it completed.....

Your thoughts on this very screwed up relationship scenario...?

I was supposed to get married on Sept 15th of this year. I just found out that my fiance (now ex-fiance) kissed her boss at work (100% confident it was a kiss, and a passionate one). When I confronted her about it, she lied to my face for days before I was able to dig up enough proof that she couldn't deny. She was deleting calls made to/from him every Thurs (poker night). She was married before and cheated on her first husband with this boss (for over a year; not an isolated incident). The boss is 15 years older, married, and has 2 kids of his own. To make matters worse, her and I bought a house together 9 months ago (in both our names) and neither can afford it on our own. If we refinance it in one of our names, we lose the employee discount we originally got on the loan rate as well (plus we would also now need to purchase mortgage insurance). We would have to sell the house for 10K more today than we bought it for to break even (and the market isn't there). What are your thoughts?

Your thoughts on this very screwed up relationship scenario...?

This is what they call a RED FLAG.

You could ignore it, and it will most likely happen to you, too.

Or....you can make her accountable, which is the only way she will stop.

That means:

1. She gets therapy (WITH and without you)

2. You put off the wedding until you and the therapist are fully confident that you have found out what her issue is and she's solving it.

3. You report this scumball boss to the company (with your girlfriend's sworn testimony) and tell them that you aren't interested in suing, you just think they should do something about men in the workplace having affairs with their MARRIED underlings.

4. She gets another job and never sees him or hears from him again. If that means that her cell phone call history is public knowledge for you and she's accounted for every hour of the day, so be it.

MAYBE when those four things were ALL complete I'd think about marriage.

Otherwise, sell the house, take a loss if you have to, and GET THE HELL OUT. If you don't , it will only get worse.

Your thoughts on this very screwed up relationship scenario...?

Don't get back with this cheating piece of crap just for a house...

God does not take something away from you without giving you something better.

Your thoughts on this very screwed up relationship scenario...?

If you have an amazing BS detector why did you buy a house with a woman you can't trust.

Sell the house and cut your losses. Next time don't get engaged to a woman who has a proven track record of breaking her promises - especially one who still works with the guy she cheated with before.

Your thoughts on this very screwed up relationship scenario...?

I'd see about some pre-marital counseling, and couple's counseling. Why is she having this affair? It probably doesn't even have anything to do with you, she probably does love you...but for some reason she can't give up this 'addiction' with her boss/affair. Therapy can help.

Your thoughts on this very screwed up relationship scenario...?

Best to look for someone who won't cheat on you. In my experience, it's a lot harder for girls who cheat to change than guys who cheat.

Your thoughts on this very screwed up relationship scenario...?

I'd cut my losses and move on - unless you want your heart broken again.

Your thoughts on this very screwed up relationship scenario...?

Are you worried about a meaningless house or the rest of your life? Take a big breath and move on. You chose to be a part of this scenario, now you can choose to get out.

Your thoughts on this very screwed up relationship scenario...?

She cheated on her last husband with this man and no has cheated on you with the same man...once a cheater always a cheater..Break it off all the way. Personally I would take the prof I got to the wife of the man she cheated on you with but that is just me..Break it off and cutt you loss you could probally do better.

Your thoughts on this very screwed up relationship scenario...?

Wow. No offense or anything, but that is really sick of her.

Check the Internet for help with the house. I was bored one day and watched an episode on Rachel Ray where they were talking about breaking up. They talked about this website where you could sell an engagement ring if your fiance backed out. maybe there's something like that for houses. with all the wackos out there, i wouldn't be surprised.

Your thoughts on this very screwed up relationship scenario...?

Sounds like you two have a housemate no matter what happens with the boss or anyone else. My thoughts? You are in a world of ****...I wish you good luck...

Your thoughts on this very screwed up relationship scenario...?

well if she cheated on her 1st husband with this guy and u caught her doing the same thing before u got married chances are she's not gonna give this guy up. u could think about renting the house out for a while until u can sell it for what u are wanting for it. but just be glad u found out about her before u said I do. but good luck best wishes to u.

Your thoughts on this very screwed up relationship scenario...?

If you're already sleeping in another bedroom, you're essentially broken up. You're always going to be mistrustful of her, admit it.

As for the house, these things happen. Maybe one of you can't afford to live there on your own; why not rent it out? Or, put it up for sale and the one who stays, get a roommate until it sells. The house thing is a headache, but you can work it out.

You're not in a %26quot;relationship%26quot; with this woman. She's being dishonest with you. And what's the deal of her cheating with this boss during her first marriage? What makes you think that kiss was an isolated incident? She obviously can't let go of him; the only reason they're not together is that he's married. Call the marriage off.

Your thoughts on this very screwed up relationship scenario...?

get the hell out man! the ship took a hit and it's sinking. who cares about the house, you may wind up losing it all anyway if you stay with her.

Your thoughts on this very screwed up relationship scenario...?

Why did she kiss him? Was she drunk?

Your thoughts on this very screwed up relationship scenario...?

You can agree for one of you to stay there with a room mate and refi or sale when the market is better. Or you could rent it out for awhile. Sorry you had to go through this, that is a bummer.

Your thoughts on this very screwed up relationship scenario...?

Well, if it is her boss this time, who will it be next time? And there will be a next time, she will probably hide it better too! Need that eating you up? No house is worth that crappy feeling! Get out when you can and make it as financially feasible as possible.

Your thoughts on this very screwed up relationship scenario...?

She evidently can't resist her boss. This is bad news for you unless you want to share her with her boss. She may be genuinely sorry for her actions and/or you may truly be blinded by the love you have for her.

It seems to be a repetitive affair for her, and most likely won't stop with any permanence.

As for the house, cut your losses, sell it and move on. Otherwise one of you take and just pay what you got to. You will suffer the consequences of getting the cart before the horse. The other option would be use it as a rental house and split any rent that comes from that rental.

Your thoughts on this very screwed up relationship scenario...?

I am with you in deciding to break off your relationship with her. She cheated on her first husband. Now, she cheated on you and in both instances, she was involved with the same man. I don't blame you for not trusting her anymore. Be very thankful that you discovered her infidelity before marrying her.

You should sell the house that you and your ex bought, even if the housing market is not very good, to eliminate any reason for her to contact you.

Your thoughts on this very screwed up relationship scenario...?

Do what you want to do with her at home and let her do what she does at work. Think of this kiss as a part of her job duties, which have nothing to do with your marriage. Fight your jealousy, you'd become a better person that way.

Your thoughts on this very screwed up relationship scenario...?

Your in trouble....big time....sorry. When you met her and she was still working for the same boss you should have immediately told her she had to quit. Now with that said, if she is willing to quit and wants to get some counseling, you MIGHT be able to save this, but she's a cheater. Obviously she has problems that will most likely continue with no moral obligation to anyone. I think you might want to cut your losses now, sell the house and move on.

Your thoughts on this very screwed up relationship scenario...?

First off you need to be thankful you found out about her cheating ways before you married her. The best thing to do with the house in your situation would be to just sell it and both of you get out of it and get a fresh start with that. Sorry for all your aggravation and heartache. It will take time to heal and deal but eventually one day you will be ok and you will find a faithful, decent and wonderful person to spend the rest of your life with.

Your thoughts on this very screwed up relationship scenario...?

well you have answered your own Q there at the end, you believe her and love her, if you do then you have to trust her but, why not go to a solicitor, tell your partner that you want to draw up an agreement, like a pre nup, to state that whoever cheats and there is substantial proof, then 25% of the person at faults part of the house automatically goes to the other.....this will make her and you think twice of cheating, if you do cheat, you not only lose your relationship, you lose half your stake in the house, i hope you have seperate deeds.

Your thoughts on this very screwed up relationship scenario...?

Sounds like you want to forgive....you should try if your intuition is in agreement. I know that she can love you and still be unfaithful. I have been in a relationship with someone who is married and because there is no future you try to replace them. I tried to move on but it was hard to forget. It is possible that she loves both of you. If you want it to be a success she would have to find another job! You don't deserve to deal with that, it would consume your mind all the time. Make a stand for your relationship......stay with her but get what you deserve!

Your thoughts on this very screwed up relationship scenario...?

Sell the house cut any losses or split any profits and move on. You state she was married before and cheated with the same man (boss). Do not %26quot;cheat%26quot; yourself and marry this woman only to find yourself playing %26quot;second fiddle%26quot; to a relationship that she has obviously been involved in for sometime. I would not like to see this happen to you even though I do not know you personally because it is not a fun place to be. Do yourself one of the best things you can do and let it go, house and all. You should seek to be with someone who wants you and you only. Often a woman will continue a relationship with a married man because they secretly believe that he will leave his current wife...because he will often allude to this when they are together. Statistically and from personal experience this does not happen (seen a girlfriend stay in a relationship for eight years with...yes...a married man.. never left his wife and she lost eight years waiting) and statistics are not in favor of the man leaving the wife. I know this is painful...but look at it for what it really is..she has a history of sorts with this man and until she closes the door on this relationship with him..which should include her switching jobs and staying away from him..including phone calls..no communication and some time has gone by then maybe you stand a change but just know that this could take a long time for her to do and you do not need to be in the picture while she is getting her world straightened out. Good luck.

Your thoughts on this very screwed up relationship scenario...?

YOu have to be clear with your strategy, which has several fronts:

1. wedding or no wedding -- that's your call and you know very well how likely she will do it again

2. finance -- how to deal with money if you don't marry her

3. revenge?

For 2, you have to untangle the finance instead of further tangling it. You can be co-occupant of the house but no marriage and sell it when the market returns. Otherwise, find the right exit and take equal loss. But close all joint accounts in banks and credit cards, even living expenses. Take this very seriously.

For 3, you may generate some satisfactiong going to her boss and threaten exposing him to his company's HR. How bad you want him to suffer and if you want him to do to compensate (don't get caught blackmailing someone)? Of course, you are not the husband but the boss won't want the bad press.

The ABc Corporation is evaualting a potential lease agreement on a truck that costs 40,000 and falls

into the Marcs 5 year class. The loan rate on the truck would be 10% if ABC decided to borrow and buy rather that lease and the loan would require 5 equal payments due at the end of the year. The truck has a 5 year economic life an an estimated residual value of $10,000 If ABC buys the truck it would purchase a maintenance contract which costs 1000 per year payable at year end The terms lease which include maintenance call for a 10,000 lease pymt at the begininng of each year should they lease por purchase show your work

The ABc Corporation is evaualting a potential lease agreement on a truck that costs 40,000 and falls?

Truck costs $40,000

Buy:

Loan = $40,000

Interest = 10% X 5 X $40,000 = $20,000

Total repayment = $60,000

Annual repayment = $60,000 / 5 = $12,000

Residual Value = $10,000

Maintenance = $1,000

Total outgoing annual payment = $13,000 at end of year

Present value = 13,000/1.1 + 13,000/(1.1)^2 + 13,000/(1.1)^3 + 13,000/(1.1)^4 + (13,000 - 10,000)/(1.1)^5 = $43,071

Lease:

Present Value = 10,000 + 10,000/1.1 + 10,000/(1.1)^2 + 10,000/(1.1)^3 + 10,000/(1.1)^4 = $41,699

Answer = lease

The ABc Corporation is evaualting a potential lease agreement on a truck that costs 40,000 and falls?

Thanks, I worked the problem an come up with the same senario to lease. Thanks, Report It

The ABc Corporation is evaualting a potential lease agreement on a truck that costs 40,000 and falls?

to buy 40000@10%for 5 years with 1000 per year maintenence

interest=principal*rate*time=(40000)(.... so principal+interest=60000 over 5 years is 12000 per year on loan and 1000 per year maintenence so 13000 per year. in 5 years this is 65000. i assume %26quot;residual value%26quot; means it can be sold after 5 years for the 10000 as claimed therefore ABC is looking at a net expenditure of 65000-10000=55000 to buy outright

to lease 10000 a year for 5 years is 50000 maintenence is included and no residual value can be recouped by ABC

unless there is some adjustment due to the nuance between words %26quot;at the end%26quot; and words %26quot;at the beginning%26quot; of the year i conclude that ABC should LEASE NOT BUY due to the 5000 that ABC would save according to these calculations. I am not in the business of corporate equipment aquisition this is just my own observation based on the information provided

I have horrible credit. I need a personal loan, Who can help me. I don't care about the rate.?

I just want to be able to get my Wife and Son Christmas Presents. I don't have a checking account.

I have horrible credit. I need a personal loan, Who can help me. I don't care about the rate.?

Maybe skipping X-mas presents this year would be in order. Instead, take your family to a soup kitchen to help serve the homeless who aren't as lucky as you to have what you do. Make it a family tradition to teach your kids that giving is better than receiving. Don't get a loan. You probably have too many to deal with right now. Celebrate x-mas with the fact that you have a loving family with good health. Christmas has become too commercial lately.

I have horrible credit. I need a personal loan, Who can help me. I don't care about the rate.?

Do you have a house or car you can borrow against?

I think you got some good feedback, not sure why are so upset. Maybe you feel too sensitive about your situation and felt you'd get a magic answer like such and such bank will lend to you. But people have listed alternatives like programs that can provide gifts for your son, a second job and so on.

I have horrible credit. I need a personal loan, Who can help me. I don't care about the rate.?

sign up at a hospital for free gifts, they always have some families they help

I have horrible credit. I need a personal loan, Who can help me. I don't care about the rate.?

Why dont you get a better paying job and pay off your debts, they'd probably like that better than a present.

I have horrible credit. I need a personal loan, Who can help me. I don't care about the rate.?

That閳ユ獨 why you have horrible credit. You don閳ユ獩 care about the rate. Are you fishing for ways to steal someone閳ユ獨 Identification and get a credit card?

I have horrible credit. I need a personal loan, Who can help me. I don't care about the rate.?

You can go to www.freecycle.org to pickup free stuff and give away free stuff. Never know what you'll get.

Or get on craiglist site and sell your unwanted items.

If you must couldn't you apply for a credit card from Sears, JCPenny's-something like that?

I have horrible credit. I need a personal loan, Who can help me. I don't care about the rate.?

Try Capital One. They gave me a credit card when my credit was bad. The rate was 20% but it started my credit.

I have horrible credit. I need a personal loan, Who can help me. I don't care about the rate.?

Contact Toys for Tots for your son. Your wife is old enough to understand. Don't create extra bills if you are already trying to make ends meet. Catch her later she will understand.

I have horrible credit. I need a personal loan, Who can help me. I don't care about the rate.?

Get a decent job, then handle yourself like a man. Forget this year and try harder for next year...If you don't you'll just dig yourself a deeper hole....You sound like a loser. I feel bad for your son.

I have horrible credit. I need a personal loan, Who can help me. I don't care about the rate.?

Sorry to hear about your situation, just tell your wife %26amp; kids Merry Christmas, and tell them you love them. you need to set your goals and make next year better for you and your family.

I have horrible credit. I need a personal loan, Who can help me. I don't care about the rate.?

Ignore the other mean comments. Everyone has problems some times. Check with the salvation army or a local church for help with gifts for your son. Salvation army might be able to help out with your wife too if she needs something like a new coat. It doesn't hurt to ask. good luck.

I have horrible credit. I need a personal loan, Who can help me. I don't care about the rate.?

Take them somewhere for Christmas.

Make them handmade presents.

Write a beautiful poem, and wrap it as a present.

Wrapping paper? Comics from the newspaper.

Adopt a dog or cat from the pound, and give it to your son.

Think differently. Do things that don't cost money, or little money and live and enjoy life that way.

Pay your highest interest loans first, then work your way down from there. Always take a small amount for yourself to live on, before paying any bills. Don't buy anything else, and no more loans.

I have horrible credit. I need a personal loan, Who can help me. I don't care about the rate.?

Try this site. should help. but you will have to buy on line

http://www.e-wisdom.com/credit_cards/cat...

If you have any questions let me know

ryan@robertscreditgroup.com

I'm not looking down on you. This is a real site that dose not pull credit.

I have horrible credit. I need a personal loan, Who can help me. I don't care about the rate.?

If you get this loan, next year you will be in the same position, and you will be seeking another loan.

You are better off to show your family you love them, not with money.

I have horrible credit. I need a personal loan, Who can help me. I don't care about the rate.?

Taking care of your family and planning for the future are more important than getting them xmas gifts this year. You need to focus on cleaning up your financial habits. Needing a LOAN for gifts shows that you have to make better decisions about your money. Start spending less than you earn and pay cash for everything. If you really don't want a handout, get a 2nd job or sell some of your stuff.

I have horrible credit. I need a personal loan, Who can help me. I don't care about the rate.?

so you'd be fine with a rate of 70%. Is that why you have bad credit????? Go get another part time job, they just might like that more.

Do day labor temp agency, one that will pay you like the same day fifty bucks after taxes and thren do your shopping at big lots and target.

EDIT- Poster, why are you displaying all of this %26quot;you people make me sick%26quot; Trust me, nobody is going to give you a loan if you display that kind of an attitiude.

seriousely, Maybe you need to not worry about this year if you have no money, Taking out a loan with a surperiorly high interest rate is BAD FINANCIaL planning.

Good Luck

I need a sub-prime, rural loan for 95% to close by 4/6/07?

My husband is in Iraq %26amp; we've fallen in love with a property in Temple, TX. Unfortunatley all of these regulations for sub prime loans just changed and my lender backed out yesterday. We're supposed to close by the 6th of April! So, I'll lay it out here and if anyone has a suggestion please let me know ASAP! Thanks so much!

House: 3 bedroom/1 bath on 8.5 acres, property has %26quot;church%26quot; on it with another 3 bedrooms, 2 baths, kitchen, ect. There are also 2 small horse barns.

We offered $115k and buyer will pay up to $7k closing costs. We have $500 earnest money on the property.

Credit: I filed bankruptcy solo (ch 7) last year due to some medical issues (long story) and it was completed 12/06. My middle score is 619 and debt to income is great. My husband has a lower score, in the 520's. His income is slightly less than mine, but still good debt to income for him too.

We have $6000 to put down %26amp; understand our interest rate will be higher, but we'll refi later. Please help

I need a sub-prime, rural loan for 95% to close by 4/6/07?

A VA is your only option. You are really high risk and I doubt anyone would touch you, high interest or not. You aren't even paying 10% down. The property may not be worth that in a month.

I need a sub-prime, rural loan for 95% to close by 4/6/07?

Try some large banks

I need a sub-prime, rural loan for 95% to close by 4/6/07?

Since he's a veteran, why not go with a VA loan?

I need a sub-prime, rural loan for 95% to close by 4/6/07?

I also have the same the same problem. my score dropped 60 points over a $100 bill that was in collections, Pretty musch exact same scenarion as this guy who put up the question.

I need a sub-prime, rural loan for 95% to close by 4/6/07?

A USDA rural housing loan is probably your best bet.

Check them out here: http://www.rurdev.usda.gov/rhs/common/in...

You might also check with the FHA:

http://www.fha.gov/

You may very well qualify for both; however, I doubt very seriously that you'd make your listed closing date.

Good luck!

I need a sub-prime, rural loan for 95% to close by 4/6/07?

As long as you have 5% to put down it will not be a problem to get you financing. We offer in house and broker financing options, FHA / VA / and Conv. , Most importantly we will close your loan quick. Please email me @ principal.solutions@hotmail.com and be sure to include contact phone numbers.

Thanks

I need a sub-prime, rural loan for 95% to close by 4/6/07?

Check out the free evaluation form at the source website. Maybe their nationwide network of loan officers can help. Good luck,

I need a sub-prime, rural loan for 95% to close by 4/6/07?

I am Mr Peterson Chris.I am a legitimate loan lender who gives out loans at low interest rate of 3%.Are you finacially down?Do you want to pay your bills?Is your credit score low?If yes,then you are in need of a loan.I deal with only honest people who are really in need of this loan.If interested contact me today with the loan of loan you need so that my loan terms and condition will be forwarded to you.You are to mail me or contact me through this email address

consultingpeters@myway.com

Whats the Catch with Student Loan Consolidation?

I get all these offers in the mail to lower my interest rate for my student loands -- 2.75% for example

Are these companies any good? Or I am better of sticking with my 3.7% and 4.5% interest rates

Whats the Catch with Student Loan Consolidation?

here are the catches I know of so far. the highest rate possible is typically 8.25%, you only get to consolidate once...so make it a good one, hopefully with a fixed rate. Student Loan companies offer many deferred or delayed options, but paying this way might wind you up paying off your education while you are simultaneously trying to pay for your children's education. Do the math and make sure you can get those things paid before your kids start hitting 18+. If no kids yet, go ahead and guesstimate when you might have them. Scary huh? Best of luck! P.S. I hate student loan companies.

Whats the Catch with Student Loan Consolidation?

You need an unbiased article. Have found one here. Hope it helps. http://www.businessstadium.com... Report It

Whats the Catch with Student Loan Consolidation?

Please post the url of the place that offered the 2.75% consolidation. That might have been possible back in 2003, but not today . . . are you looking at an old flyer??

Whats the Catch with Student Loan Consolidation?

Ask yourself this question if you hear of a really great deal: what are the Student Loan Consolidation conditions, what's the catch? Our %26quot;catch%26quot; is that we require more than $20,000 in Student Loan Consolidation for the 1.0% after 36 on time payments. That means that more than 70% of graduates are eligible to take advantage of our benefits, and for those students who have less than $20,000 in loans - hey, that's a good thing!

Whats the Catch with Student Loan Consolidation?

The web sites says that they have rates as low as 2.75%, that means that some people may get 2.75% but not all people. I suspect very few people qualify for this rate. It's a teaser rate to attract you. Looking at this page, it doesn't look like you will get 2.75%. It looks like you will probably not end up saving much money.

(Parenthetically, if your student loans are at this low a rate, I would not be in a rush to pay them off. This is in answer to a previous question you asked.)

Federal educational loan vs. Private lender?

What are some ups and downs ?

Easy to obtain, most lenient, easiest to work with?

Flexible consumer guidelines?

The most freedom?

Better Rates?

Federal educational loan vs. Private lender?

Go with the federal education loans. Private should only be a second thought if the first just won't do it.

First, the federal student loan is a tax deduction.

Secondly, the interest rate that you pay is capped.

Thirdly, you ahve additional options with the federal loan, such as deferement if you get into a financial crunch.

lastly, the federal government is trying to help you financially get through college.

Private lenders are in it to make money.

Federal educational loan vs. Private lender?

I have had both, and I'll tell you right away that federal educational loans are more lenient, lower interest, easier to work with, flexible and give the best rates. the reason is private lenders are there for profit off of interest and that is all, as opposed to actual educational reasons.

Federal educational loan vs. Private lender?

obv federal well no interest till you start making something depends again.. i live in Ontario here federal allows you certain period of time after you are done with education to pay off the loan.. obv you can't pay off in that period of time so they charge you interest where as private lenders charge you interest from the beginning.. which one i would choose? FEDERAL !!