Auto loan argument (Long)

Question for Trunk, my girlfriend has a 2007 Toyota Corolla that she bought and was looking at getting a Ford, only problem is that 2 years ago she got close to foreclosing on her house, so her credit is shot. she always makes her payments, but if she was to sell this one, would it be impossible for her to get a loan on another vehicle?
 
cjmatt said:
Question for Trunk, my girlfriend has a 2007 Toyota Corolla that she bought and was looking at getting a Ford, only problem is that 2 years ago she got close to foreclosing on her house, so her credit is shot. she always makes her payments, but if she was to sell this one, would it be impossible for her to get a loan on another vehicle?
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Don't know unless we try. Foreclosures and BK's take a big toll on a persons credit, but like we (scumbag car sales people) say "We'll throw some shit against the wall and see what sticks" :)
 
They just re-signed for their second year of mortgage modification. (Basically its just an interest only deal they have worked out with the mortgage company) They jumped on it as soon as the wife lost her job knowing trouble lies ahead). No mortgage payments were ever missed or late. Basically cut the house payment in half. (Hence the reason they were able to keep pay their current payments on time even with the loss of 40% of their income) To date, no late or missed payments on ANYTHING, EVER.

And no, paying off the CC debt is NOT an option at this time.
 
02 Silver Z said:
They just re-signed for their second year of mortgage modification. (Basically its just an interest only deal they have worked out with the mortgage company) They jumped on it as soon as the wife lost her job knowing trouble lies ahead). No mortgage payments were ever missed or late. Basically cut the house payment in half. (Hence the reason they were able to keep pay their current payments on time even with the loss of 40% of their income) To date, no late or missed payments on ANYTHING, EVER.

And no, paying off the CC debt is NOT an option at this time.
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It depends on how the mortgage reports to the credit agencies.
 
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