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  • Will You Add? - Refinancing And Debt Payment Mistakes

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    ender may demand that these debts be paid off. It can be a co-signing on a car loan for a sibling.

    Your mortgage lender may end up wanting to pay off this car loan through your refinance. Even if you insist that the “car is not mine” the financial obligation is, and the lender may insist this be

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    Mortgage Lenders

    When a mortgage lender approves your refinance they often stipulate a list of current debts they want paid off.

    This debt will be paid off directly through escrow, so you don’t have a choice in the matter.

    Different Lender Types

    Different lenders have different debt payoff policies.

    Some mortgage lenders will want to pay off all of your old bad debts and collections.

    For some borrowers this is unacceptable. They may have old debts or collections that are on their credit report that are errors. They may not have yet removed these from their credit report.

    Sometimes a borrower just doesn’t want to pay these old debts off.

    They would rather have the cash for themselves after a refinance.

    Maximizing Your Cash

    You should check in advance to see if the lender will insist on paying off old debts.

    Some mortgage lenders will cap payments on old collections to let you keep more of your money. For example, the lender may limit a payment to any one bad debt creditor to no more than $2,000.

    Other Debts

    You may have loans that you co-signed in the past. These debts will show up on your credit report, and the lender may demand that these debts be paid off. It can be a co-signing on a car loan for a sibling.

    Your mortgage lender may end up wanting to pay off this car loan through your refinance. Even if you insist that the “car is not mine” the financial obligation is, and the lender may insist this be

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    debt payoff policies.

    Some mortgage lenders will want to pay off all of your old bad debts and collections.

    For some borrowers this is unacceptable. They may have old debts or collections that are on their credit report that are errors. They may not have yet removed these from their credit report.

    Sometimes a borrower just doesn’t want to pay these old debts off.

    They would rather have the cash for themselves after a refinance.

    Maximizing Your Cash

    You should check in advance to see if the lender will insist on paying off old debts.

    Some mortgage lenders will cap payments on old collections to let you keep more of your money. For example, the lender may limit a payment to any one bad debt creditor to no more than $2,000.

    Other Debts

    You may have loans that you co-signed in the past. These debts will show up on your credit report, and the lender may demand that these debts be paid off. It can be a co-signing on a car loan for a sibling.

    Your mortgage lender may end up wanting to pay off this car loan through your refinance. Even if you insist that the “car is not mine” the financial obligation is, and the lender may insist this be

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    t report.

    Sometimes a borrower just doesn’t want to pay these old debts off.

    They would rather have the cash for themselves after a refinance.

    Maximizing Your Cash

    You should check in advance to see if the lender will insist on paying off old debts.

    Some mortgage lenders will cap payments on old collections to let you keep more of your money. For example, the lender may limit a payment to any one bad debt creditor to no more than $2,000.

    Other Debts

    You may have loans that you co-signed in the past. These debts will show up on your credit report, and the lender may demand that these debts be paid off. It can be a co-signing on a car loan for a sibling.

    Your mortgage lender may end up wanting to pay off this car loan through your refinance. Even if you insist that the “car is not mine” the financial obligation is, and the lender may insist this be

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    will cap payments on old collections to let you keep more of your money. For example, the lender may limit a payment to any one bad debt creditor to no more than $2,000.

    Other Debts

    You may have loans that you co-signed in the past. These debts will show up on your credit report, and the lender may demand that these debts be paid off. It can be a co-signing on a car loan for a sibling.

    Your mortgage lender may end up wanting to pay off this car loan through your refinance. Even if you insist that the “car is not mine” the financial obligation is, and the lender may insist this be

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    ender may demand that these debts be paid off. It can be a co-signing on a car loan for a sibling.

    Your mortgage lender may end up wanting to pay off this car loan through your refinance. Even if you insist that the “car is not mine” the financial obligation is, and the lender may insist this be paid off.

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