Why is HSBC holding my car title that was used as collateral in 1997 with Beneficial Mortgage of Ohio and the loan was paid off in 1998. Now I just bought a brand new car and my 30 day tags are about to expire in 3 days. I think somebody screwed up on the paperwork. Because the car was not used as collateral on the loan in 1999.
The loan must be paid off and refinanced in one nameThe loan must be paid off and refinanced in one nameThe loan must be paid off and refinanced in one nameThe loan must be paid off and refinanced in one name
If your car was paid off, then why was it repoed? Or if you mean you paid it off after it was repoed, then if the loan company accepted your money,then they have to give you the car and title back. I would call them and get it back or your money back.
Randy borrowed $9000 to buy a new car. So far he has paid $1800 of his loan back. What percent of the loan is paid off?
When purchasing a car on credit, a loan is obtained and the loan is paid off over time. For example, a car loan paid off over 5 years, with monthly payments, is considered to amortized over 5 years.
Anytime after you have paid off the loan on it.
The loan must be paid off and refinanced in the primary borrower's name.
The bank receives the title until the loan is paid. If the loan is paid off then you receive the title.
The only way to get your car title back from the Bank of America is to pay of the loan that the title is collateral for. If the loan is paid off, they will send you the title in the mail.
I have a car that is paid off. The bank is holding the tittle for colletaral for another car loan that was repo. Is this legal?
The "someone else" needs to apply for a loan to pay off your car loan. With your loan paid off, you can sign the title over showing it free & clear. Don't sign off on the title until you know the loan is paid--or you could find that you no longer own the car but still have a loan to pay.
When you finance a car, you do not ultimately own it until you have fully paid off the loan. The lender holds the title until the loan is paid in full.
When financing a car, you do not ultimately own it until you have fully paid off the loan. The lender holds the title until the loan is paid in full.