Hi Anita, I'm wondering what the reason is for the delays. I would avoid being lienholder if possible. Is there a way to solve the delay problem? We keep the bank as lienholder because here you have to have a dealer license to order repossession or take cars to auction. Chris Rettenmaier----- Original Message ----- From: "Anita Corriveau" <[EMAIL PROTECTED]> To: "Loan Committee Discussion Group" <[EMAIL PROTECTED]> Sent: Tuesday, April 01, 2003 12:19 PM Subject: [WTW] Title Encumbrance
> Hi All, > I am having extensive delays in closing secured loans (used car loans) with my servicing bank. It was recommended that I submit them as unsecured loans and hold the titles myself (Center for Family Services). > What is the liability to the agency if we hold the titles (CFS as First Lien Holder)? What are the advantages/disadvantages? > Thanks in advance for your input. > Anita - Camden, NJ > Anita Corriveau > WAYS to WORK Family Loan Program > Center for Family Services > 584 Benson Street > Camden, NJ 08103 > 856-964-1990 ext. 295 > 856-964-0242 fax > [EMAIL PROTECTED] >
