No. In the case of "brokered" loans especially the lien holder is the investor that holds the note. The lender is the broker that helped you secure your financing.
what is the address for bank of america auto lender lien holder
You cannot sell a car you have a loan on if the lender has a lien on the vehicle. You will need permission from the lien holder to sell the car. If the lender has no lien on the vehicle then you can sell it if you wish. The title will list any lien holder.
Confusing, but there are a number of scenarios where this might be possible. First, if the lender is the lender on the vehicle, the ARE a lien holder. They may not have "perfected" the lien, that is registered it with the state, but that is an easy matter for them to rectify. Second, if they are not the lender on the vehicle, and there is no other lien holder, provided they have a judgment, the court may order the surrender or sale of other property to satisfy the debt and the judgment. Third, if you have two vehicles with the same lender, and you are defaulted on one but current on the other, the lender may choose to do what is called a"converson of collateral." If so, then the lender may repossess the vehicle you are current on due to the default on the other. They will take which ever vehicle is the esiest to recover in these situations.
The lender who loaned you the money to purchase the car and to whom you make the payments.
AnswerPay off the lien holder and they wil sign a relase, putting the vehicle in the free and clear. It depends on the type of lien. Lender's lien or mechanics lien.autolienservice.com
A first lien holder is usually the lender or mortgage holder. Mechanics or Construction Liens do not supercede any lien placed before them or mortgage recorded after the lien is filed. In Minnesota mechanics liens are only enforceable for one year after the last day of service. Any lien holder, regardless of where they are in priority, can file to enforce their lien at anytime during that one year period.
A second lien mortgage occurs when a lender is willing to impose a lien on an asset that already carries a lien with another creditor. An example of a second lien mortgage is a second mortgage being taking out for property. If a person does not make payments to either lender, the first mortgage is settled before the second mortgage can be settled,
Go to your local DMV and explain the situation. Have proof that the lender went out of business. Only They can remove the lien.
It depends upon the nature of the lien and who is the holder of the escrow account. If the property is being held in escrow by the lender, then yes, the placement of a lien is possible.
contact the DMV. Request a replacement title for your vehicle. At that time you can also ask who the lien holder is. If there is no lien holder, there was a breakdown with the lender. You should have received a clear title by mail from them.
YES, IF-IF-IF you can pay the loan off. The lender will have to be involved in the sale to get the paperwork done.Lenders will NOT release the title until the loan is paid in full. Dont get yourself in a mess trying to do it alone. Find out from the lender what the payoff is and then make sure you have that amount ready to give the lender when you complete the sale. Good Luck What if creditors already are looking for it/reposession order already out for it? Can this still be done? Likely the only way to do it is CALL the lender, get the payoff and get that amount to them NOW.They want the money more than the car.....
No, the first lien hold cannot claim or collect any monies from the 2nd lien holder. The lien holders sole recourse is with the borrower.