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M., please do not think that the bank is crazy. Why did you pay payments to THAT bank on a loan that that car is collateral for? That's called a perfected lein. That is how you will owe the BALANCE DUE plus repo fees,plus attorney fees, plus auction fees, ect. Sooo, take the car on down to the bank, get this mess over with. You are adding money you owe by playing around with the title deal. You didnt invent this game and your not the first to play. The odds are much worse than a casino that you might win. Good Luck
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When can a bank repossess someones car?
As long as the bank is listed as the lienholder on the title and as long as you owe them money and haven't paid they can repossess the car.
When a bank repossess someones car?
As long as the bank is listed as the lienholder on the title and as long as you owe them money and haven't paid they can repossess the car.
Who is the lienholder in car buying?
Who ever is holding the title as collateral for a loan. The bank or finance company typically.
My car is collateral for a loan can i sell if i hold the title?
The bank should be listed as a lienholder on the title. If you sold it, the bank would have to be paid the amount you owe them from the proceeds. Otherwise, you could be inviting possible criminal and civil charges for selling an item that technically wasn't fully yours, not to mention, whoever you sell the car to may not be able to even get a title due to the existing lien.
What is the lienholder telephone number for Bank of America PO Box 2759 Jacksonville FL 32203?
800-991-1770
Do you get the title to your car if you have a loan on it?
No. You don't get the title to your car until any loans against it are paid in full. <><><> In several states, you will get a title document- but it will show the loan company or bank as a lienholder. That title cannot be transferred to someone else until the lien is satisfied (loan paid off)
Can a lienholder repossess a car if you have a clean title but still owe them money?
It will depend on the lienholder. Most Credit Unions have a Cross Collateralization clause in their in-house contracts. This means that the vehicle you purchase will also be used as collateral for any and all other loans you may have with them now or in the future. SIMPLE INTEREST CONTRACTS FROM DEALERS DO NOT HAVE THIS CLAUSE. Make sure to read your contract carefully if you are getting a bank draft directly from a bank or credit union. If the lienholder does not pick up the car and there is still money owed, they can hold the title indefinetely or until a settlement is made.
What is Regions Bank Collateral Insurance lienholder address?
Regions Bank P.O.BOX 1984 Birmingham, AL 35201
Can you get a loan for a boat if you have already paid cash for it?
Yes. Go to a bank where you already do business and ask for a loan using your boat as collateral. If you have the boat title in your possession, the bank will need or require the title be kept by them until the note is paid in full.
If a mortgagor who is not on the title or deed is in default can the bank foreclose on the property?
If the mortgagor owned the property when they granted a mortgage to the bank then the bank has an interest even if the mortgagor conveyed their interest by a quitclaim deed. In that case the grantee would take title subject to the mortgage. If the mortgage isn't paid the bank can take possession of the property.
Can you cash check made out to lienholder?
Call the bank and ask them if you can cash a check made out to lienholder. They will tell you if they will cash it or not, or under what conditions they will cash it. You may need to present them with documentation.
What is the lienholder address for Bank of America?
For Boat Loan: BANK OF AMERICA N.A. PO Box 2759 Jacksonville, FL 32203
