They can refuse if the loan outstanding is much more than the collateral provided.
Ex: If you have a loan outstanding of 100,000$ and you have provided a collateral of 50,000$ you cannot expect the bank to release any collateral.
Lets say your outstanding is only $30,000 then you can expect the bank to release a certain portion of the collateral atleast $20,000
The car itself
Yes. If you are in default the bank can refuse anything short of your full past due balance.
You cannot use check's are collateral. Either cash or bank deposit receipts or property can be used as collateral. Usually check's have a validity period of 6 months after which they are useless. So banks would not accept them as collateral
Regions Bank P.O.BOX 1984 Birmingham, AL 35201
Yes
what are the types of collateral securities used in bank lending
No, you cannot. The moment you declare your home as collateral, the bank would take control of the home documents. Until you finish repaying the loan fully, the bank would not release the documents. During this period, trying to sell your home is a criminal offense and the bank can have you jailed for this
The word collateral in business is that the bank has rights to take away your collateral or something that you put in stock that you own. For example, John owns a farm and he took a loan. The problem is that he didn't deposit his loan in the bank back, so the bank took his collateral that he put in the bank if he didn't pay his loan back. So that is why the bank has John's farm. So I prefer that if you take a loan, then pay your loan back. Or else your collateral is bye-bye.
If it is with the same bank/financier then - Yes (Depending on how much loan you already have and how much collateral you have provided) Ex: Lets say you have a bank CD of $100,000/- as a collateral for a loan of $50,000 then the bank may give you extra loan against that CD. But if you already have a loan of $150,000 then the bank may not give you any further loans on the same collateral If with a different bank/financier then - No. If you provide something as collateral you need to submit the original docs to the bank. So any other bank may not grant you loans on that collateral.
The bank required me to provide collateral, such as my car, in order to secure the loan.
The car itself
Yes. If you are in default the bank can refuse anything short of your full past due balance.
You cannot use check's are collateral. Either cash or bank deposit receipts or property can be used as collateral. Usually check's have a validity period of 6 months after which they are useless. So banks would not accept them as collateral
Regions Bank P.O.BOX 1984 Birmingham, AL 35201
Yes
Sure. Be prepared to put up collateral.
Collateral is an adjective that is frequently used elliptically as a noun. The bank wanted collateral (property) to secure the loan. It is understood that the property is offered collaterally to secure the loan so the noun 'property' is omitted.