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Boat Loan

Discussion in 'Banking, Finance, Investments' started by gogrnygo, Mar 13, 2007.

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  1. gogrnygo

    gogrnygo Law Topic Starter New Member

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    My husband purchased a boat on 9/03/03 in Texas. The loan was from a bank in NY where we live. We've been paying payments up until about 4 months ago. My husband got laid off from his job, we're three months behind. He just got another job and we have the full intention of payment this loan, but the bank is asking to see the boat. The questionable part is we have in our possession the Title for both the boat and the trailer with NO LIENS RECORDED on either title issued to us by the state of NY. Does the bank still have the right to sieze the boat before we can get our payments up to date?

    Thank you for any help you can give us.

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