AFG’s Tim Kelly explores a few approaches to help borrowers who are upside-down on their loans in a CU Times Article
It’s an all too common situation. A couple named Lisa and Roger own a vehicle that increasingly presents expensive mechanical issues, feels dated in terms of technology, and is too small and unreliable for a growing family. They’re eager to get into a newer car but the value of the current car is $10,000 and they owe $15,000. They are “upside down” on the loan and in a bind to purchase a new vehicle…