Can my mortgage or home equity bank repossess my car if I stopped making mortgage payments?

Question

I am ready for foreclosure. I cannot afford any more payments. I have two cars that are fully paid and I am just wondering if a bank can repossess or put a lien on them?

Answer 1

There are actually companies that will work with you to buy your mortgage away from your mortgage company and avoid your foreclosure. Try looking into it at http://www.speedyrealestate.info. Good luck!

Answer 2

Nope. They only have the right to your home.

Bankruptcy - would give them the right but not foreclosure.

Answer 3

No, they cannot repossess your cars.  But get ready for those higher car insurance rates!  After your foreclosure, you are going to pay mor for everything based on credit, like insurance.