whats the process in taking up the notes?


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whats the process in taking up the notes?

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whats the process in taking up the notes? - 11/14/2008 9:26:52 PM

casey69

Posts: 118
Joined: 4/24/2008
Status: online

My friend is trying to sell his 4wheeler or get someone to take over the notes. I want to know how does this process go if you get someone to take over the notes? Will the note be the same amount as what the person is paying now? Do you have to get approved to take over the notes?

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RE: whats the process in taking up the notes? - 11/14/2008 9:33:17 PM

Spacecwboy

Posts: 988
Joined: 5/17/2004
From: Silsbee, TX
Status: offline

most finance co's will not let you assume the note anymore. you will have to apply for a loan, get approved (probably at a new rate) then the bank or loaning institutuion will pay off his loan and you will pick up what is left. Can be good if your getting a good deal or a hassle if it isnt worth it.

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